The Fund Qiwi Venture made its first investment in online service Carbay

The Fund Qiwi Venture made its first investment in online service CarbayCorporate venture branch QIWI Venture, established within the limits of the Group QIWI, made its first range of seed-investments in Russian online services. The first project, receiving financing from the QIWI is automatic aggregator Carbay, which is launched to work in May, 2013 and is already available to users.

The branch QIWI Venture has been established in January, 2013. During this period there has been considered over 200 projects, among which there were selected for investment the projects on its early stage, meeting the main criteria of the Fund: direction e-commerce, virality and use convenience. One of the first projects in the portfolio of QIWI Venture is service Carbay, which has already gathered a pool of clients and database of partners for proper functioning on Russian market.

“During the first years of the QIWI Venture work, we have completed a range of deals on financing of large projects. The first project – service Carbay – fully functions on Russian market, the second project is getting ready to its launch by the end of this year. We are planning to go further and attentively examine all the projects, which come at venture@qiwi.ru”, - comments Sergey Ebich, Chief of the QIWI Venture.

Any Carbay project is directed at work optimization of automotive market. The service is developed for legal bodies – automobile interiors, wishing to accelerate announcement distribution on specialized fields. Convenient site http://carbay.ru and mobile application, at the moment only for Android devices, and in future for Android and iOS mobile devices and tabs, will help clients. Easy and understanding interface offers a user to complete a form of advertising announcement once, noting technical characteristics and photos of the car, and the system will automatically duplicate it at most popular purchase and sales portals. The service is already working with AUTO.AVITO.ru, Yandex.Auto, Autorambler, AUTO@mail.ru, CARS.ru and many others. Besides internet resources the announcement of sales will be possible to distribute in social networks: Facebook, VKontakte, Twitter and YouTube. For all announcements there will be stated unified phones of a seller, and in future comments of potential buyers from all the social networks will be reflected in user`s account.

Despite the fact that the project has been launched recently, more than 15 Moscow automobile interiors have already been involved in it. Founders of the project believe that by the end of 2013 this quantity will exceed 50 organizations, and by the next year they will orient at 200 clients. Also, the service founders think over the geography widening of their location. The first stage of scale operation will be entering CIS countries` market, and negotiations with potential partners have already been conducted in Belorussia.

QIWI Venture is ready to invest in new perspective projects. With a great interest are considered solutions from financial and Internet sectors, CMB projects (customer base management), advertisement market, mobile- and e-commerce, and aggregators of services and goods. At this stage QIWI Ventures defined maximum limit of investments in one project up to $1M. Besides financial investments, authors will be offered all required resources for diligent development and promotion of their Startup.