Wildberries registered a microfinance organization – Kommersant

The Wildberries marketplace has registered a subsidiary microcredit company VB Finance LLC (VB Finance MCC). Information about the organization appeared on website Unified State Register of Legal Entities

Wildberries established the company on December 20. The authorized capital is 10 million rubles. The general director of the company is Denis Baganov. The subsidiary will specialize in consumer loans, industrial loans, loans secured by real estate, and loans for the purchase of houses.

“Fintech will be one of the strategic priorities of the digital platform in the coming years, so the creation of VB Finance is a logical confirmation of our plans. We plan to be one of the first to offer a lending service to sellers,” they said “Interfax” in the marketplace press service.

The Wildberries marketplace will soon open 5 more companies: VB Sport, VB Fashion, VB Charm, VB Food, the press service added.

In 2021, Wildberries established a subsidiary credit organization, Wildberry Bank, to develop the financial services line and create new products for Wildberries partners and customers.

Other large marketplaces are also creating their own lending organizations to develop their products. In 2022, Ozon registered EKOM-Bank, which a year later was renamed Ozon-Bank. Yandex, which has Yandex Market, bought Acropolis Bank, which had been operating since 1994, in 2021 and renamed it Yandex Bank.

In December, analysts for the first time recorded a slowdown in the growth rate of sellers on marketplaces. From January to November 2023, the number of sellers increased by only 35%, while last year during the same period it increased by 134%. This is explained by the fact that online retailers began to increase commissions for counterparties and reduce their support for marketing and logistics.

Read more about how sellers are coping with the new online retail policy in the Kommersant publication. “Sellers are looking for a way out”.

Delgir Mandzhieva