Tinkoff has acquired a controlling stake (51%) in Just Look, the developer of Jump. Finance, a fintech service that automates interactions with freelancers, including payments.
The deal was undertaken on behalf of Tinkoff Business, the branch of Tinkoff Group that services small, medium-sized and large businesses. Jump. Finance will be integrated into the Tinkoff Business ecosystem and retain its current team. The financial terms of the deal have not been disclosed.
Jump. Finance is a provider of payment automation software for taxi fleets, car dealers, scrap collectors, delivery companies and other businesses that work with self-employed contractors. The service also helps streamline paperwork, accounting and order management.
Jump. Finance will add value to Tinkoff Business’ set of industry solutions for businesses and entrepreneurs. Jump. Finance customers will receive seamless access to business finance products such as credit, identification, virtual card issuance and account management. The service is currently used by over 3,000 companies, making payments to over 500,000 individuals and self-employed persons.
Medium-sized and large businesses working with individuals and self-employed persons are core customers of Jump. Finance. The company expects to generate approximately RUB 200 mln in revenue for 2021, up 200% year-on-year.
Stanislav Bliznyuk, Chairman of the Management Board at Tinkoff Bank, commented:
“By combining Jump. Finance technologies and Tinkoff Business infrastructure, we can create best-in-class solutions for companies across different sectors. We remain open to integrating other solutions into our ecosystem, where we can enable their significant growth by providing access to Tinkoff’s financial technologies.”
Mikhail Kirichenko, co-founder and CTO at Jump. Finance, commented:
“With this agreement, Jump. Finance will become available to all Tinkoff Business customers straight ‘out of the box’ when they open a new settlement account. We believe that synergies with Tinkoff will enable us to not only boost our growth, but also to achieve the initial goal that we, as founders, have set for this product — to become the main financial tool for all companies working with individuals and self-employed persons, in addition to using traditional settlement accounts for legal entities
