ModulBank purchases the Unicloud Business 365 system from a Skolkovo resident


ModulBank purchases the Unicloud Business 365 system from a Skolkovo resident
ModulBank, a banking service provider for small business, and Unicloud Labs (I.T. Group), a resident in the Skolkovo Foundation IT cluster, announce the closing of the deal on the sale of rights to the Unicloud Business 365 CRM system. Based on the agreements reached by the parties, key developers, who were engaged in the work on Unicloud Business 365, are also to join ModulBank's team for further efforts in the project. The system bought by ModulBank, including its major component – the legally relevant electronic document management system – will provide a platform for new customer services.

"ModulBank provides its clients with a service that enables their companies to switch their attention from routine to business activities. We are already helping our customers keep books, address all types of legal issues, manage their settlement account and handle minor assignments. By adding Unicloud Labs' product, we will be able to significantly expand the range of our services and make life easier and much more comfortable for our customers", Andrey Petrov, Managing Director of ModulBank, said.

"We are glad that our products will be taken to a totally new level of development and operation by small businesses, by being inherently fitted into ModulBank's portfolio of services," Dmitry Troshin, President of Unicloud Labs, said. The technology platform created by ModulBank will make it possible for it to accelerate the development of its own products and solutions."

Unicloud Business 365 was introduced in the middle of 2012. At its heart, the system is a cloud service designed for cooperative work of the personnel in a small company, which includes assignments management, customer management, project management activities and handling of primary documents. The service features a unique built-in mechanism to create, sign and send invoices, VAT invoices, certificates, waybills and other documents. Moreover, all these operations, after being signed with a digital signature, become legally effective without being made on paper. The system is integrated with major operators of legally valid digital document management, such as Kaluga Astral, SKB Kontur, and Taxcom.

"Developing and marketing own innovative IT products are among the key components in I.T. Group's business strategy. We came up with the idea of creating a convenient cloud service to provide employees with communication capabilities in their joint work on projects several years ago. As a result, we launched an internal technological start-up project in 2010, which then emerged as Unicloud Labs. Over the past years, we have succeeded in creating one of the most full-featured home solutions in this area. The deal with ModulBank will allow us to offer a unique service based on the Unicloud Business 365 system to thousands of Russian businesspeople," Tagir Yapparov, Chairman of the Board of I.T. Group, commented on this event. 

No details on the deal's financial terms have been given.

About ModulBank
Modulbank, an innovative service for small businesses, was the first product on the market of retail banking, to be tailored for needs of individual entrepreneurs and small businesses. The integrated solution of Modulbank includes support of a business consultant, online accountant and lawyer. The investor of the project is Regional Credit OJSC CB, which is also banking service provider. Modulbank opened its first office in Moscow, December 10, 2014. Another office was opened in Novosibirsk in early 2015. More information on the project is available on its website: http://modulbank.ru

About Unicloud Labs
The company, founded in 2011, is part of I.T. Group, and has been a Skolkovo resident since September 2011. In January 2012, it was awarded a development grant from the Skolkovo Foundation, and in August 2012, it brought to market an pioneering cloud solution in small business automation – Unicloud Business 365 (www.business365.ru), which is now used by thousands of people. The company operates offices in Moscow and Ufa.

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