RCIF and Sberbank to invest $21m in Eruditor Group.

RCIF, a fund established by the Russian Direct Investment Fund and China Investment, and Sberbank, a state-owned Russian banking and financial services company, agreed to invest $21m in Eruditor Group, an online marketplace provider for freelancers and businesses. “The digitalization of the economy provides consumers with simple and convenient access to a variety of services and we expect the client base of Eruditor Group to expand further. The company's platforms are already among the leaders in their segments, with the services being used by millions of people. The investments we are announcing today are aimed at developing the business of the Eruditor Group, through offering new services, as well as supporting the international expansion of the company and allowing it to compete in the largest markets," Anatoly Braverman, RCIF Co-CEO.