Method Statement Advanced Payment Solutions

Advanced Payment Solutions is an independent fuel card operator in Russia and Eastern Europe. The PPR LLC network accepts fuel cards in all regions of Russia. As of December 2020, about 4,000,000 transactions take place monthly on fuel cards.

PPR LLC works with legal entities and individual entrepreneurs. Among the clients are multinational, state, medium and small companies in Russia, Ukraine, Belarus and the Baltic countries. In addition to the standard list of processing services and the sale of cards and terminals, the company provides telematic communication services, tire fitting, washing, payment of traffic police fines and parking. As of December 2020, PPR LLC serves over 46,000 corporate clients, and their number continues to grow.

History

2023: Kismet Capital Group bought the WED

The investment group Kismet Capital Group of the ex-head of MegaFon Ivan Tavrin acquired from the American Fleetcor Technologies 100% of Advanced Payment Solutions LLC (PPR), a large Russian fintech operator of services for business. This deal was announced on August 15, 2023.

As a result of the transaction, PPR LLC, including subsidiaries, comes under the control of a new shareholder represented by Kismet Capital Group. Top management and the PPR team in Russia will continue to develop their business within the framework of the existing strategy in the corporate services market, the PPR said in a statement.

Ivan Tavrin

It also says that the deal was approved by the FAS, the government commission for control over foreign investment in Russia and the Office for Control over Foreign Assets of the US Treasury. Her financial terms were not disclosed.

Kismet Capital Group plans to develop the Advanced Payment Solutions group as an independent asset that fully meets the investment strategy of the fund, the press release specifies.

As noted in the PPR in mid-August 2023, the group is an independent player in the Russian market for processing technologies for corporate payments. The company's product line includes business solutions: providing partners with access to their own acquiring network, paying for fuel and other services, including in related segments of corporate costs. Clients are more than 70 thousand legal entities and individual entrepreneurs. The number of employees is more than 600 people.

Fleetcor Technologies provides payment solutions for business, the main of which is the "fuel card" - an analogue of a bank card for paying for fuel at gas stations at a non-cash station.^[1]

Notes