Russian FinTech marketplace for traders Finvale has picked up $500,000 in funding.
Softline Seed Fund led the round, purchasing a $263,000 stake in the Moscow-based startup.
Emerging markets-focused private equity firm Da Vinci Capital also participated through its co-investment fund.
Finvale was launched in 2016 and offers a marketplace for trading financial products alongside risk management and other solutions tailored to traders.
The platform is designed to facilitate the distribution of financial products by brokerages and commercial banks around Russia.
The company plans to open the platform up to non-financial products and expand beyond its home market.
Softline Seed Fund’s Elena Volontovskaya said: “Our strategy is to finance breakthrough information technologies.
“Finvale will provide unique opportunities for professional investors throughout Russia to get fast, simple and efficient access to financial products.”
Softline Seed Fund is a joint venture between the Softline Group and Russian Venture Company’s seed fund.
Da Vinci Capital managing partner Oleg Jelezko added: “online trading platforms are becoming increasingly popular with financial sector clients.
“In the future, the purchase of financial products will not differ significantly from the purchase of other goods and services on the internet.”
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