The Russian financial investment group Finam has invested in CreditCardsOnline.ru, a credit card information and online application service managed by Credit Cards Online LLC. According to newspaper Kommersant, Finam invested $1 million in exchange for a 25% stake in CreditCardsOnline.ru
Launched in November 2010, CreditCardsOnline.ru aggregates information about credit cards in Russia and offers online credit card applications. The Russian banks pay lead generation fees to CreditCardsOnline.ru for successful completion of online credit card applications. There are only 11 million credit cards issued in Russia.
In 2010, Finam purchased a 30% stake in a leading Russian banking information site, Banki.ru.