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Finaks

Company

Owners

Finaks is a Russian bank guarantee aggregator and banking product platform. The website offers the following products:

  • bank guarantees that help to protect the participants of the transaction from unforeseen circumstances;
  • loans for business;
  • factoring for public procurement participants, allowing to confirm their intentions to provide services and provide goods in case of victory in the tender;
  • Select and file a billing account for your businesses.

All services on the site are free for customers, since the project is funded directly by partner banks. To attract and retain customers, the Finaks platform shares part of its commission with users, offering to save up to 30% on ordering financial products through the site.

History

2023: Attracting 5 million rubles of investments from the IIDF

At the end of October 2023, the Internet Initiatives Development Fund (IIDF) announced the investment of 5 million rubles in Finaks. As a result of the transaction, IIDF received a 7% stake in the startup. Taking into account these figures, it turns out that the bank guarantee aggregator could be estimated at at least 71 million rubles.

Finaks has become one of seven startups the IIDF has invested in as part of its 19th accelerator set. As noted in the fund, when choosing companies for investment, the IIDF was guided by the following criteria: IT (software, hardware, web, mobile), there is a finished product and there are customers, a proven business model with repeated revenues of 5 million rubles a year, the company is registered in Russia, at least 25% of the business belongs to citizens of the Russian Federation.

IIDF announced the investment of 5 million rubles in Finaks
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The selection was also difficult due to the fact that in search of projects with a dividend approach we came across a layer of entrepreneurs who were not immersed in the topic of the venture capital industry. In fact, today investors need to re-train the layer of founders. This is a new reality in which we all have to work, - said Maxim Steigerwald, Investment Director of the IIDF.
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