The leading Russian early-stage venture capital firm ABRT Fund and European venture capitalist Mangrove Capital Partners have invested in KupiBonus.ru, the online site for group purchasing in health and beauty. The other investors include Direct Group and Global Buying Group. The deal amount should be in the $1 million range.
Launched in July 2010, KupiBonus.ru offers to its subscribers daily deals with big discounts in beauty and SPA salons, fitness and wellness centers in Moscow. The service wil shortly add offers in other Russian cities. Beaucoup.ru is a project of Fast Lane Ventures, a business incubator founded by Pascal Clément of Direct Group and Oskar Hartmann, founder of online shopping club KupiVIP.ru.
According to the Public Opinion Foundation, the Russian e-commerce market will increase to $6 billion in 2010. Otto Group-backed eVenture Capital recently invested in Russian Groupon-like service Darberry.ru.
Group Buying Global AG is founded by Dr. Klaus Hommels (investor in Skype, Sportify and Facebook), Oliver Jung (investor in Brands4Friends.de, Xing and Facebook) and Mangrove Capital Partners to own and manage group purchasing projects across four continents.
ABRT Fund and Mangrove Capital Partners together made several investments in Russia including in KupiVIP.ru, social game company Drimmi and visual search engine Quintura.
Click to download Quintura search apps for iOS, Android and Symbian.