TEL AVIV Nov 30 Russia's Sberbank
said on Wednesday it signed a $100 million seven-year venture
loan agreement for Gett, an on-demand mobility company operating
in Russia, the United States, United Kingdom and Israel.
The funds will be used to finance Gett's business expansion,
and Sberbank will hold options linked to Gett stock.
Igor Bulantsev, acting head of Sberbank's corporate and
investment banking business, said the opportunity to finance a
"significant digital business" was especially important for the
This venture loan was the first of its kind for Sberbank.
Founded in 2010, Gett's technology enables consumers and
businesses to instantly book on-demand transportation and
delivery services. Earlier this year, Gett, formerly Get Taxi,
announced a $300 million strategic investment from Volkswagen,
bringing total funds raised by Gett to over $640 million.
(Reporting by Tova Cohen)