Moscow exchange to acquire electronic marketplace platform INGURU

Moscow Exchange announced acquiring a 70% stake in INGURU, an e-commerce platform provider that offers insurance and banking products. The exchange may increase its ownership to 100% over the next five years.

MOEX’s partnership with INGURU within the personal finance platform Finuslugi will expand opportunities for its customers and enable them to select the most favourable insurance and banking services.

The terms of the deal have not yet been disclosed, however, MOEX stated in the official announcement that the acquisition price will depend on NGURU’s operational and financial performance.

Moscow Exchange

Yury Denisov, Chief Executive Officer of Moscow Exchange, commented:

Yury Denisov, MOEX

Yury Denisov

INGURU is one of the leaders in Russia in financial marketplaces for individuals. The acquisition of the platform is part of our strategy to enter markets adjacent to our existing business. The service will be integrated into the Finuslugi platform and will expand the range of products offered to clients. INGURU has a great deal of expertise and will continue to develop the platform as part of the Finuslugi team.

The INGURU platform offers its users the opportunity to compare and purchase a range of services such as “OSAGO” compulsory automobile insurance, “KASKO” comprehensive insurance, mortgages, credit cards, consumer loans, car loans, deposits, debit cards and microloans). On average over 1 million people use the platform per month.

The platform is visited by sixteen insurance companies including Rosgosstrakh, AlfaStrakhovanie Group, Renaissance Insurance, SOGAZ, VSK, Ingosstrakh, Soglasie, MAKS and others.

Rustam Khasanshin, founder of INGURU, added:

We are confident that our cooperation with Moscow Exchange will be as effective as possible, allowing us to take the platform’s services to a new level.

Moscow Exchange released the personal finance platform on 15 October 2020. Its users can open deposits and purchase OSAGO automobile insurance online with any bank. The exchange noted that its product offering will continue to grow.

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