Equity investment into Series A Preferred shares of Scalarr Inc., a company with operations and development centre in Ukraine, as part of USD 7.5 million financing round.
ETI score: 80
VCIP II is expected to contribute to the "Competitive" and "Resilient" transition qualities as it will support the development of recently established highly innovative technology-based companies, as well as promote better access to venture capital, which is still nascent in the EBRD Region. Each sub-project under VCIP II will be expected to contribute to both transition qualities and all projects will receive the same facility ETI rating. Transition impact will be monitored at the project level and assessed at the Framework level.
Scalarr, a technology company with operations and development in Ukraine, provides the antifraud software solution for mobile application developers. Scalarr's software, using its proprietary technology such as neural networks, unsupervised and semi-supervised machine learning allows the application developer to detect and prevent fraudulent application installs and avoid marketing expenses spent on purchase of the fraudulent traffic.
Under VCIP, additionality stems from the Bank's ability to bring extensive regional private equity experience and experience of the region, networks and relationships to support the VCIP qualified co-investors in their investments in investee companies.
Environmental and Social Summary
Categorised C (ESP 2014). Environmental & Social Due Diligence, based on the review of the completed E&S Questionnaire, showed that the project and client are not associated with any significant environmental and social issues. For the project, the company is required to comply with the EBRD's Performance Requirements as well as submit an annual environmental and social report. There is no Green Economy Transition component associated with the project.
Technical Cooperation and Grant Financing
Company Contact Information
PSD last updated
15 Apr 2021
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More information on the EBRD’s practices in this regard is set out in the ESP.
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Access to Information Policy (AIP)
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM via email firstname.lastname@example.org to get guidance and more information on IPAM and how to submit a request.