Netmonet

Netmonet is a cashless tip service launched in mid-2019. Its users can leave personal monetary gratitude to waiters and beauty salon employees with a bank card in 5-10 seconds without a mobile application and registration. The service works as follows:

• a visitor to the institution receives a list with the Netmonet QR code;
• he goes to the waiter's page on the site and selects the sum of the tip;
• pays by credit card or through payment systems Apple Pay and Google Pay.

By mid-February 2021, the average commission with tips is 1-2%, but does not exceed 5%. The service allows you to instantly withdraw funds to any bank card. The withdrawal fee for less than 2 thousand rubles is 18 rubles, and over this amount - 0 rubles.

History

2021: Alfa Bank bought Netmonet

In mid-February 2021, it became known about the sale of the Netmonet service to Alfa Bank. It is planned to close the deal before the end of the month. Its value is not disclosed.

Denis Efremov, a principal at Fort Ross Ventures and a venture partner at Seedstars, in a conversation with Forbes suggested that Netmonet's business could be valued at $4-8 million. This is provided that the service already serves 1000-1300 restaurants, at least a third of visitors leave a tip, and the average customer turnover is 10 million rubles a year - as on average in Russia.

Alfa Bank acquired Netmonet

Konstantin Sinyushin, managing partner of the venture fund The Untitled Ventures, estimates the service several times less - at 120 million rubles ($1.6 million). But he also added that it is impossible to accurately evaluate the service due to the lack of public information.

According to Denis Efremov, Netmonet will simultaneously become an additional advantage of acquiring Alfa Bank and will allow you to get a stake in a segment that has not brought money to banks before, since people gave a tip in cash.^[1]

Notes