TCS Group Holding (which includes Tinkoff Bank and Tinkoff Insurance), owned by Oleg Tinkov, plans to invest up to EUR 25m in a fintech company designed to serve private European clients.

Vedomosti reports that founders and co-investors of the new company are two key managers at TCS: Senior VP, Business Development Director Artem Yamanov and Vice President for New Products Development Alexander Yemeshev.

“Finally, we are ready to conquer Europe! Let’s see how it goes…” TCS founder Oleg Tinkov has said in an Instagram post.


The project launch is scheduled for 2020. The new company is going to provide non-credit financial services. TCS has not disclosed any details about the activity of the new enterprise or even its name, only saying that it will work with “retail financial and banking products and transaction services”.

TCS decided to invest in the project because of its good prospects, TCS Group Holding explained: Russia is among global fintech leaders and the founders of the new startup have proven record and experience in developing and using financial technologies.

TCS Group Holding sees high probability that these technologies can successfully “land” on European markets. The group is going to support the project with both funding and expertise.

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