Dragon Capital completes acquisition of Treeum platform with finance.ua and minfin.com.ua
Dragon Capital via Dragon Capital New Ukraine Fund LP (Jersey) has completed the acquisition of a controlling stake in Treeum, a leading Ukrainian online financial supermarket that manages business media resources including minfin.com.ua and finance.ua, as well as Finline, Bank Online and multi.ua, the press service of Dragon Capital has reported.
"We expect the demand for financial products to continue growing, and Treeum is well positioned to take advantage of this market opportunity. The company has significant market expertise and customer recognition. It demonstrates impressive growth. We are delighted to have the opportunity to partner with such a strong team of managers and shareholders," Managing Director, Co-Head of Private Equity at Dragon Capital Andriy Nosok said.
As reported, in November 2020, the Antimonopoly Committee of Ukraine permitted Dragon Capital investment company to acquire over 50% of the shares of Treeum Holdings Limited.
According to the information on the holding's website, Treeum is a Ukrainian online platform that compares and sells financial products, supports an online currency exchange platform, reliable ratings and statistics, as well as news, comments and professional analytics.
The revenue of Finance.ua in 2019 amounted to about UAH 17.8 million, net profit – about UAH 0.5 million, that of Minfinmedia – UAH 36.9 million and almost UAH 1 million, respectively, Banking Class – UAH 10.9 million and UAH 0.1 million.
Multi.ua and Finline last year saw revenues of UAH 6.6 million and UAH 1.3 million, respectively, and a net loss of UAH 0.7 million and UAH 2.3 million.
According to the public register, Ksenia Vaisman, a Russian citizen living near Kyiv, is indicated as the beneficiary of Treeum Holdings Limited.
Dragon Capital is one of the largest investment companies in Ukraine. It works in the field of direct investment and financial services, provides a full range of investment banking and brokerage services to corporate and private clients. The ultimate beneficiary of Dragon Capital in the public register is a Czech citizen, President of the European Business Association Tomas Fiala.
Fiala is the owner of the NV media holding, which includes the eponymous magazine, portal and radio.