A British private equity fund invests in a Russian money transfers provider
Owners of Unistream, a Russian system of money transfers, have found a foreign investor to their business. The blocking stake in the company was acquired by Aurora Russia Limited. Unistream hopes to make an IPO in three years from now.
The Russian financial sector is attracting more and more foreign investors. Their focus ranges from banks to other retail operators. Recently, Benchmark Capital Europe and Mint Capital invested $12 mln in Elecsnet, owner of a chain of top up terminals. Now it's likely to be the turn of money transfers.
Economic activity of the population is growing and boosts the amount of money transfers both in Russia and beyond, says Olga Belenkaya, an analyst at Finam. Growing turnover and good prospects make such companies attractive investments.