SKB-Bank to Buy Ecombank

UrBC, Yekaterinburg, May 25, 2017. SKB-Bank is acquiring the Russian finance/tech project Ecombank, the bank’s press service reports.

Ecombank is a startup company offering the latest factoring solutions for online shops. The company specializes in offering loans to such stores, with C.O.D as the loan security: the money gets transferred on the day the order gets shipped to customer. Ecombank has been on the market since 2014.

SKB-Bank has already invested the first money installment in the startup. The funds will be directed to finance Ecombank’s customers and to develop new products for the e-commerce industry.

According to SKB-Bank Chair of the Board Denis Repnikov, the new deal is a logical part of the bank’s digital banking development strategy.

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