Tinkoff Bank Buys MyPocket App

Moscow, Russia — 28 December 2016.
TCS Group Holding PLC (TCS LI) (the «Group»), Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that Tinkoff Bank has closed a transaction to acquire MyPocket (VKarmane), an app that allows users to store any data and scanned documents right on their smartphones.

The service was launched in May 2013 and is available for iOS, Android, and Windows devices. MyPocket has 700,000 downloads to date and 150,000 active users across the platforms.

Tinkoff Bank plans to customise the app and integrate it into the infrastructure of the Tinkoff.ru financial supermarket.

Maxim Yevdokimov, Vice President of Mobile at Tinkoff Bank, commented, «There is a huge potential in the products and services enabling collection, storage, and digitalisation of documents, bank and loyalty cards, and other personal identifiers. MyPocket will complement our services and make them even more convenient. The new app will make any transaction faster and easier by eliminating the need to enter the data manually: all the users have to do is store the data in the app. After that, it will be uploaded automatically when Tinkoff.ru services are used.»

Artem Yamanov, Senior Vice President at Tinkoff Bank, said, «MyPocket fits perfectly into the Tinkoff.ru ecosystem. There is a lot we are doing on our own, but at the same time we keep a close eye on the market to check out new services and solutions that might have synergies with our platform. This deal is also important for us in terms of cooperating with startups and integrating external solutions into our services.»

Sergey Pakhandrin, the creator of MyPocket, commented, «We are happy to see the three years of hard work evolve into this highly successful deal. Our product is in the right hands and will continue improving.»

Dmitry Maslennikov, the founder of the Disruptive.vc accelerator, MyPocket’s shareholder, said, «The sale of MyPocket has been one of the most important developments of 2016 across the whole startup ecosystem in Russia. First, it features an accelerator’s exit from a portfolio company, which is quite uncommon, and second, it is a deal between a startup and a corporation — something that our market is lacking. We are particularly pleased to close the deal with Tinkoff, which means our service has been highly appreciated: the bank is well-known for its in-house development of banking solutions.»

The users of MyPocket can upload images, document details, and any other data to the app, process it, and send to their contacts. With MyPocket, all user data is securely protected.

The deal value has not been disclosed.

About the Group

TCS Group Holding PLC is an innovative provider of online retail financial services operating in Russia through a  high-tech branchless platform. TCS Group includes Tinkoff Bank, mobile virtual operator network Tinkoff Mobile, Tinkoff Insurance, and Tinkoff Software DC, a network of development hubs across Russia.

The Group was founded in 2006 by the Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.

With no retail branches, the Group serves its customers remotely via online channels and its call centre, and operates a network of over 2,500 representatives to ensure smooth delivery of its products. The network covers all of Russia and allows next day delivery to most customers.

The Group’s key business is Tinkoff Bank, Russia’s first and only direct bank offering both own brand and partner retail financial services via its Tinkoff.ru platform. The product range includes daily banking (credit and debit cards, payments, money transfers), savings, investments, loyalty programmes, travel services, SME services, mortgage platform, and insurance. With its special focus on mobile business, the bank offers mobile applications both for its customer base (Mobile Bank) and beyond it (Traffic Fines, MoneyTalk, Card 2 Card instant money transfers).

As at 1 May 2018, the bank was the second largest player in the Russian credit card market, with a market share of 11.7%. The 1Q18 IFRS net income of TCS Group Holding PLC amounted to RUB 5.7 bn, ROE grew to 68.5%.

Banki.ru, Russia’s largest financial news portal, named Tinkoff Bank the Bank of the Year 2016. In October 2016 Tinkoff Bank was named the largest independent global direct bank by Frost & Sullivan. In 2015 and 2016, the Global Finance magazine named Tinkoff Bank as the Best Consumer Digital Bank in Russia. In 2016, the bank also won Global Finance’s Best Integrated Consumer Bank Site award and was named the Best Digital Bank in the CEE by Euromoney. The bank’s mobile application was recognised as the best in Russia by Markswebb Rank & Report for three consecutive years in 2014, 2015 and 2016, and by Deloitte for four consecutive years from 2013 to 2016.