Russia’s Amazon’ plans heavy investment and move into finance

Ozon, Russia’s second-largest ecommerce player, will expand into financial services and groceries as it squares off against emerging rivals from the country’s finance and tech sectors who also want a piece of the rapidly growing market. Alexander Shulgin, Ozon’s chief executive, told the Financial Times in an interview that the company will apply for a banking licence in order to ramp up its fintech offerings, including making loans to merchants selling on its platform.
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