The largest Russian online trading platform Wildberries is launching a subsidiary microfinance organization called VB Finance. This innovation, which is already reflected in the database of the Unified State Register of Legal Entities (USRLE), expands the range of the company’s activities.

According to data from public documentation, VB Finance plans to provide consumer loans, loans for industrial needs, loans secured by real estate and loans for the purchase of housing.

In addition to VB Finance, Wildberries announces its intention to create five more companies, each of which will be focused on different areas of activity: VB Fashion, VB Sport, VB Charm, VB Trend and VB Food.

“We are creating a legal basis for the development of key areas of Wildberries business. Fintech will be one of the strategic priorities of the digital platform in the coming years, so the creation of VB Finance is a logical confirmation of our plans,” the company’s press service reports.

Let us remind you that recently the Wildberries marketplace also introduced its own service for video conferencing and webinars called WB Stream. The full launch of WB Stream is planned for 2024, but the service is already available for testing in the web version or in a separate application for iOS and Android.