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Advance Capital is pleased to announce the successful attraction of a strategic investor to UDP Auto (formerly known as Kodix Auto), a Russian developer of websites and IT products for automotive dealers and car manufacturers. As part of the deal, the company completed a rebranding, and founder Kirill Novikov stepped down as CEO. Georgy Vekhov was appointed Chief Executive Officer and will focus on the implementation of the company’s new development strategy.

The funds raised from Milestone Capital will be used to expand the product portfolio and to build a major market player through consolidation around the UDP Auto ecosystem. The company’s solutions already enable automation of the vehicle selection and purchase process. UDP Auto currently serves more than 800 dealer centers across Russia.

Georgy Vekhov, Chief Executive Officer at UDP Auto:

“I will ensure continuity of the corporate culture built by the company’s founder, Kirill Novikov, over 15 years of work. The UDP Auto team consists of experts focused on growth and development. The attraction of investment and the use of experience from leading global IT companies will allow us to create a local leader in our segment.”

Artur Shubaev, Vice President at Advance Capital:

“In 2022, our team became deeply involved in the Russian automotive sector, which we believe is critically important for the future of the Russian economy. The market is facing significant transformation as well as a number of landmark M&A deals. We are pleased to have supported one of the leaders in automotive IT solutions in attracting a strong strategic investor that should lead the company to national leadership in its segment.”

Advance Capital acted as the exclusive financial advisor to UDP Auto.

The deal value is not disclosed.