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Advance Capital is pleased to announce the completion of a Series C investment round for Borzo (formerly known as Dostavista), a crowdsourced on-demand courier delivery service. The investors included the Russian Direct Investment Fund (RDIF), Mubadala (the UAE sovereign wealth fund), as well as the company’s existing shareholders, including Vostok New Ventures (VNV) and several other investors.

The funds raised in the investment round will be used to support Borzo’s global expansion and to achieve the company’s long-term objective of becoming one of the leading players in the courier delivery markets of Asia and Latin America.

Mikhail Aleksandrovsky, Founder of Borzo:

"With this newly closed round, we continue moving toward our goal of becoming one of the leading courier delivery companies in every market where we operate. We believe that achieving this goal requires strong operational alignment and a consistent brand perception, which is why we decided to undertake a rebranding."

Dmitry Kasyanenko, Partner and Managing Director at Advance Capital:

"Dostavista is a unique company that has succeeded in building a product with strong demand across 10 countries on four continents, including large and highly competitive markets such as Brazil and India. We were pleased to assist the founders and earlier-stage investors in selecting the most suitable investor and in closing this important deal on the path toward achieving leadership positions in the international market."

Advance Capital acted as the exclusive financial advisor to Borzo.

The deal value is USD35 million.