The asset management arm of the VTB banking group, VTB Asset Management, which manages venture capital funds and other assets, is acquiring 51 percent of MOBI.Деньги (MOBI.Money), a mobile payment provider, from the PayCash group, according to Infox.ru. The deal is valued at ca. $2.5 million. The investment was made through VTB Venture Fund, which is managed by VTB Asset Management.
Launched in 2007, MOBI.Money is based on the payment technology of PayCash. It allows making instant payments using mobile phone.
The PayCash group previously created and realized to strategic investors such projects as Яндекс.Деньги (Yandex.Money), Интернет.Деньги (iMoney) in Ukraine and iDealer (network of instant payment terminals).