OZON INTENDS TO OBTAIN A BANKING LICENSE

The head of Ozon, Alexander Shulgin, told the Financial Times about plans to obtain a banking license. It is assumed that the marketplace itself will be able to lend money to small and medium-sized businesses.

Shulgin said that Ozon planned to apply for a banking license - in the future, the retailer will develop its own fintech business. In his interview, the head of the company noted that loans would be issued to sellers participating in the marketplace for further business.

Shulgin stressed out that it was very difficult for sellers to get loans, since banks provide unfavorable conditions or refuse.

At the same time, Ozon observes the platform businessmen and sees their development, including the number of customers and turnover. Shulgin believes that all this information will help the company make right decisions on loans.

In February this year, Ozon has already established the microfinance organization Ozon Credit - it is awaiting the entry into the state register. It is assumed that this particular company is applying for a license from the Central Bank. The retailer has also launched the Ozon.Invest project to provide funds to sellers in the B2B format (business to business).

It should be noted that other market participants are also planning to move to the financial sector. For example, Wildberries service became the owner of Standard-Credit Bank at the beginning of 2021. Yandex also announced the plans to buy its own financial institution.