YouDo.com, a Moscow, Russia-based online service for people to find professionals to perform their private or business-related tasks, raised $17m in funding.
The round was led by PJSC MTS (NYSE :MBT )(MOEX: MTSS) which provided $12m, with participation from current shareholders.
The company intends to use the funds to launch new services categories and a federal-scale advertising campaign, as well as to further automate the products on offer and expand the business geographically, which includes foreign markets.
Led by Alex(ei) Gidirim, YouDo.com is an online platform which allows users to find professionals to perform their private or business-related tasks such as cleaning and housekeeping, freight transport, courier delivery, and more, through the youdo.com website or its mobile app (available on iOS and Android).
There are 5 million users registered in the system, which includes over 800 thousand verified ‘doers’. The service officially operates in Moscow, St. Petersburg, Nizhny Novgorod, Kazan and Yekaterinburg, and nearly 30% of its orders are virtual, and are issued and carried out from anywhere in the world.
The total amount invested into the online business of YouDo.com to date draws up to $26,5 million. The complete list of the investors includes:
– PJSC MTS,
– Sistema Venture Capital,
– Flint Capital, and
– United Capital Partner (UCP),
– the owner of QIWI, Sergey Solonin, and
– entrepreneur Alexander Kabakov.