Moscow Exchange Announces Acquisition of E-commerce Platform Provider INGURU

Moscow Exchange announced that it has acquired a 70% stake in INGURU, a banking and insurance electronic marketplace platform.

The partnership between Moscow Exchange and INGURU platform within the personal finance platform Finuslugi will expand opportunities for customers and enable them to select the most favourable insurance and banking services.

According to the press release, the financial terms of the transaction have not disclosed. In addition, the purchase price will depend on INGURU’s operational and financial performance.

Commenting on the partnership, Rustam Khasanshin, founder of INGURU said: “We are confident that our cooperation with Moscow Exchange will be as effective as possible, allowing us to take the platform's services to a new level.”

Yury Denisov, Chief Executive Officer of Moscow Exchange, commented: “INGURU is one of the leaders in Russia in financial marketplaces for individuals. The acquisition of the platform is part of our strategy to enter markets adjacent to our existing business. The service will be integrated into the Finuslugi platform and will expand the range of products offered to clients. INGURU has a great deal of expertise and will continue to develop the platform as part of the Finuslugi team.”

Fazzaco has reported on Moscow Exchange posting trading volumes in April 2021​, with total trading volumes growing by 12 percent to RUB 95.7 trln compared to the same period of 2020.