Last week Net Element, a NASDAQ-listed provider of mobile payment and value-added transactional service and solutions in Russia and in the United States, announced $11.2 million investment from a new investor, Cayman Invest SA.
The $11.2 million raise, in exchange for a 15% stake, is part of a larger financing round totaling $30 million that Net Element plans to complete this year.
Among Net Element’s properties is TOT Group, a global mobile payment and transaction processing provider. This group includes Unified Payments, which operates in the US market, Aptito, a cloud-based point of sale payments platform, and TOT Money, a provider of mobile payment, SMS messaging and mobile billing solutions which Beeline, Russia’s second largest mobile operator has ranked number 1 SMS content provider in Russia.
Net element has its headquarters in Miami, Florida and Moscow, and its developer teams in Russia and Ukraine.
Net Element’s chairman, Kenges Rakishev, is a prominent Kazakhstani businessman involved in several Russian high tech companies.