eCredit

eCredit is an online platform that helps dealers sell cars on credit. According to the creators of the project, it allows you to quickly obtain bank approval, draw up a loan transaction and control all key performance indicators.

eCredit collects all available offers on car loans and insurance on one platform. This makes it easier for dealers who do not need to look for offers in all banks - they can choose the most optimal options through eCredit and offer the client. By April 2021, 8 car brands and more than 1,500 car dealers are cooperating with the service. Among the partners of eCredit are more than 25 banks and 15 insurance companies and service providers.

History

2024: Yandex became the owner of 100% of eCredit

Yandex completed the acquisition of the eCredit car loan platform, increasing its share to 100%. The acquisition became known on June 4, 2024 after Yandex bought the remaining shares from the founder and general director of the service, Kirill Larin. Although the amount of the transaction was not disclosed, analysts interviewed by Forbs estimate it at several hundred million rubles.

The eCredit platform provides the opportunity for dealers and banks to offer customers the most favorable lending conditions. According to representatives of Yandex, eCredit employees will continue to work on the development of the platform together with Авто.ру. This collaboration is aimed at improving existing and introducing new digital solutions for the auto business, while the eCredit brand will be preserved.

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As noted in Yandex, the eCredit platform simplifies the process of issuing loan applications. The specialist of the dealer's credit department fills out the client's questionnaire, attaches the necessary documents and sends them for consideration to the service partner banks. The buyer receives offers from various banks and chooses the most suitable one. In the future, Авто.ру users will be able to find out the terms of a loan for a specific car without leaving their homes.

Thanks to the synergy of Авто.ру, Yandex and eCredit, we will be able to provide the market with more tools for selling cars with credit funds. This will simplify and speed up the process of processing transactions, increase the number of applications to banks and expand the range of loan offers for car buyers, - said Alexander Zverev, director of business development at Yandex Verticaley.

Zverev noted that the acquisition of the eCredit platform was expected. Initially, Yandex acquired a 25% stake in the service, and in May 2024 increased its share to 30%, implementing the initial agreements. Almost a month after that, Yandex bought out the remaining shares, fully consolidating the platform.^[1]

2021: Yandex bought 25% in eCredit

On April 9, 2021, Yandex announced its investment in the eCredit service. The financial component of the transaction was not disclosed, but the share in the project received by Yandex was named - 25%.

As Forbes was told in Yandex, eCredit will remain an independent company and will continue to develop independently, and Yandex will not influence operational solutions and platform operation. Companies do not plan to exchange user data, except for the information that they themselves will indicate, for example, in the application for the calculation of insurance.

ECredit investments attracted from Yandex intend to spend on expansion in the regions and the development of insurance products. The service plans to integrate its technologies into Авто.ру. Yandex is not going to issue loans on its own.

Yandex acquired 25% in eCredit

According to the founder and head of the eCredit project Kirill Larin, the service earns on license payments.

Our customers pay to use the platform. We are not a broker and have nothing to do with loans issued or insurance sold, "he said in a conversation with Forbes.[2]

Notes