3S Money Club

3S Money Club is a digital bank focused on international trade. The company was founded in 2009 by Ivan Zhizhevsky and Andrei Dikushin.

According to the startup's website, it is developing a new corporate-level banking platform, combining advanced fintech solutions and the traditional capabilities of the so-called trading banks, whose popularity has come to naught as an independent product.

History

2021: Raising $4 million from TMT Investments, estimated at $55 million

On April 21, 2021, the TMT Investments venture fund announced its investment in digital bank 3s.money. As part of the Series B round, the startup raised a total of $4 million and was valued at $55 million. What share TMT Investments received in the project in exchange for investments is not disclosed.

3s.money intends to spend the funds raised on entering Asian markets, opening regional offices and launching a mobile application for business customers. By April 2021, the service operates in the UK, Europe, Russia, China, the countries of the Middle East and Africa. He supports settlements in pounds sterling, euros, dollars and more than 30 other currencies.

TMT Investments invested $4 million in British digital bank 3S Money Club

According to the CEO of 3s.money Ivan Zhivevsky, the service issues local bank payments in those countries from which customers want to receive payments. 3S Money localizes business in new markets and helps international companies operate locally, cheaply and quickly, he said.

Once again, we proved our winning strategy and attracted the attention of large venture funds. It's nice. We are doing what the global economy can no longer exist without - we connect companies with their foreign customers, "said Ivan Zhizhevsky, commenting on raising funds from TMT Investments and other investors.

3s.money reported that the company in 2020 was able to increase revenues by 4.5 times and increase the number of employees from 15 to 40 people, despite the global crisis associated with the COVID-19 coronavirus pandemic. By April 2021, the startup has offices in London, Dubai, Amsterdam, Luxembourg and Riga.

Co-founder and managing partner of TMT Investments Artyom Inyutin expressed confidence that 3s.money will help companies in business much better than traditional banks do.^[1]

2020

TMT Investments invested £500,000 in 3S Money

TMT Investments July 9, 2020 announced the investment in the online banking service 3S Money, focused on international trade, £500 thousand. The first payment was made in April 2020. As specified in TMT Investments, the total investment in this round amounted to £1.5 million.

3S Money is a licensed payment platform for online banking services in the field of international trade, providing cross-border companies with bank accounts in the country and currency in which customers need it to do business. The service also offers popular types of banking services: opening a settlement account for individuals and legal entities, accepting and processing online payments and paying on a card, while combining fintech solutions and traditional capabilities of so-called trading banks.

The platform is part of the 3S financial group, based since 2009 in the UK (London) and with offices in Latvia (Riga), Luxembourg and the Netherlands (Amsterdam).

The founders of the company are Ivan Zhizhevsky and Andrei Dikushin, who act as FCA-approved directors on the board of Relendex.com regulated by FCA online business for peer-to-peer lending.

3S Money is a symbiosis of cross-border trade and an ambitious team. Therefore, we believe in the success of the project, "says Artyom Inyutin, co-founder and managing partner of TMT Investments

3S Money is going to spend the raised funds on business development.

TMT Investments invested £150,000 in 3S Money Club

At the end of April 2020, it became known about the investment of the TMT Investments fund in 3S Money Club. The volume of the entire round of financing amounted to  £665 thousand (almost $828 thousand).

According to the Crunchbase portal, the Series B round was closed on April 8, 2020, in which TMT Investments  acted as the main investor.

TMT Investments First Invested in Fintech Company

According to Rusbase, citing the co-founder and director of strategic development of TMT Investments, German Kaplun, the fund directly  invested £150 thousand ($186.7 thousand). Moreover, for TMT Investments, this is the first investment in a fintech startup.

As a result of this investment transaction, 3S Money Club was valued at £10 million ($12.4 million). TMT Investments intends to invest  £150 thousand in the project, but did not name the terms of investment.

3S Money Club is going to spend the raised funds on business development.^[2]

Ivan Zhizevsky says that 3S Money Club solves two major problems that banks face. Firstly, they are focused on large outlets or on working with companies that conduct simple business. In difficult situations, banks, even large ones, lack the resources or knowledge to evaluate these enterprises. The second problem is the limited business functions in banks.

Even a small fund like us had to use two banks!  Why would a small business with 5 employees do this and worry about managing liquidity? - he said.

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