East-West Digital News 22 Mar 2102
Oktogo.ru, a leading Russian online hotel booking and travel company, officially confirmed yesterday that it has secured a $10 million round of financing. The news was leaked for the first time last month, but Oktogo’s press release has provided details on the operation.
VTB Capital, the investment arm of the Russian state controlled financial group VTB Group, has led the round, but Oktogo’s existing investors Mangrove Capital Partners, Ventech and ABRT – from Luxembourg, France and Russia, respectively – also took part in it. The new investment has brought the total equity capital raised by the startup to $15 million.
Oktogo’s post-money valuation amounted to $30 million, the Russian business daily Vedomosti reported from “persons close to the deal.”