On June 21, 2023, SmartTechGroup, known as STG, announced its listing on the Moscow Exchange. Earlier, on June 9, the company underwent a legal restructuring to become a public joint stock company, and on June 13 it signaled its intent to list publicly. The leadership emphasized a desire to leverage a direct listing route, which has shown promise for technology-focused firms. Analysts noted that, by February 2022, the market displayed a notable discount for listed tech companies, creating additional opportunities for investors. Anton Zinoviev, founder of the CarMoney fintech and a STG shareholder, explained that a modest supply could translate into meaningful scale, with the new funds enabling strategic initiatives planned for the coming year. He also mentioned that further equity financing would be considered as market conditions evolve.
SmartTechGroup is the parent company of CarMoney, a fintech asset central to STG. CarMoney operates across 72 regions in the Russian Federation, focusing on auto loans with a unique model that preserves ownership and pledged collateral in the hands of the borrower. Industry observers highlight this distinctive approach as a differentiator within Russia, combining asset-backed lending with flexible ownership terms. The platform enables borrowers to navigate the entire loan process—from application to disbursement—in roughly 23 minutes, highlighting a rapid, customer-centric experience.
Separate from the lending process, analysts point to CarMoney’s proprietary technology platform, built to process vast data streams around the clock. Leveraging big data and artificial intelligence, the system supports quick decision-making and a largely automated lending workflow. The AI component analyzes a borrower’s profile to tailor an interest rate, a feature that makes CarMoney appealing to both end users and investors seeking efficiency and risk-aware pricing.
Key performance data
Over seven years, CarMoney has delivered notable results. The loan portfolio stands at approximately 4.4 billion rubles, representing year-over-year growth, and 2022 saw more than 3 billion rubles in new lending. The company has issued around 22,000 active loans, with the typical credit check averaging about 277 thousand rubles, up by several percentage points from the prior year. The fintech reported net profit around 403 million rubles for 2022, marking a robust yearly increase, while own capital reached 2.1 billion rubles and the investment portfolio held about 2.8 billion rubles. In recent years CarMoney has issued five bonds on the Moscow Stock Exchange, drawing roughly 1.5 billion rubles in funding. Since 2016, passion for investor value has translated into more than 2.3 billion rubles in income distributed to investors and 631 million rubles in coupon income across bond issuances.
Industry observers estimate CarMoney’s capitalization in the 8 to 9 billion rubles range. A market insider cited by a Russian brokerage suggested a figure near 7.9 billion rubles, while Zinoviev projects a much larger potential for the broader car-secured lending market in Russia—potentially approaching trillions of rubles. Such perspectives underscore the perceived strength of CarMoney as the principal asset within STG.
Listing terms
STG has indicated that it will let market forces set the share price, rather than preannouncing a fixed price. Trading is scheduled to begin on July 3, with placement managed by Otkritie Broker and IFC Solid. The total equity offered to investors is planned to be 600 million rubles, and the trading code will be CARM. All trades and settlements will occur in Russian rubles. The offering comprises 21 tranche bids, starting at 2.37 rubles per share and topping out at 3.16 rubles per share. The expected dividend payout is projected to be half of the year’s net profit.
Market commentary suggests that listing CarMoney’s parent company is attractive to both new and seasoned investors. A critical factor is CarMoney’s resilient business model, which continues to grow faster than peers in the secured-loan sector and has earned recognition in consumer finance rankings. Analysts anticipate strong demand for STG shares as the company enters the market, with investment professionals advising potential buyers not to delay if they are considering exposure to this segment.