ROWI (ROVI Factoring Plus)

ROWI (ROVI Factoring Plus LLC, formerly Factoring Plus) is a fintech platform for small and medium-sized businesses.

History

2024: T-Bank bought control at Rowi

T-Bank Group acquired controlling interests in the factoring company ROWI. As it became known in July 2024, the structure of TKS Holding - T-Projects LLC - bought 51% each from ROVI Factoring Plus LLC and ROVI Technologies LLC from Kiwi JSC.

According to Interfax, shares in both companies are still pledged by T-Bank. The remaining 49% of the shares are owned by Plus Group Management LLC, owned by ROWI co-founders Viktor Vernov and Yevgeny Rodionov.

Earlier, on June 11, 2024, T-Bank announced its intention to acquire these shares to expand the line of products by factoring for small and medium-sized businesses based on the fintech platform ROWI. The deal was expected to be completed after approval from the Federal Antimonopoly Service. The ROWI team will maintain autonomy in decision-making and continue to grow the company's business.

The experience gained by the ROWI team in building scoring systems in the factoring market will help us launch a new direction in a short time and expand the opportunities for financing our clients, "said Andrey Moiseev, Head of SME Lending at T-Bank

ROWI is a fintech platform for small and medium-sized businesses, created in 2019. According to the Association of Factoring Companies of Russia for the first quarter of 2024, it is one of the TOP-2 factoring companies in terms of the growth of an active customer base.

The portfolio of ROVI factoring transactions in 2023 amounted to ₽16 billion, of which ₽10,4 billion falls on transactions with SMEs. In 2023, the company paid customers ₽68,4 billion.

The transaction will allow T-Bank's business customers to access the rapid supply financing tool, and ROWI users will have access to products and services within a single personal account and T-Business application.^[1]

2022

According to information for March 2022, ROVI has its own technological core and development, separated into a separate legal entity - ROVI Tech LLC (ROVI.Tech), thanks to which it has been developing financial products since 2018, providing business financing: factoring, financing sellers on marketplaces, bank guarantees, lending to the execution of contracts.

2020

Logo in 2019

The factoring financing project Factoring PLUS was created with the support of the QIWI group and is aimed at the segment of small and medium-sized businesses (SMEs). According to information for July 2020, the company's development in the Russian market is aimed at creating an innovative online platform for suppliers and their buyers. The Company ensures the work of several product areas in the field of b2b: financing of contractual obligations in case of deferred payment and guaranteeing the participation and fulfillment of contractual activities of the parties.

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