Tinkoff Bank is a credit card company and a first online bank in Russia. The bank was founded by the renowned Russian entrepreneur, Oleg Tinkov. He was later joined by two financial investors, Goldman Sachs (in 2007) and Vostok Nafta (in 2008). In 2012 Baring Vostok Private Equity Fund IV and Horizon Capital’s Emerging Europe Growth Fund II also
became shareholders. Based in Moscow, TCS Bank issues credit cards to customers in all of Russia's regions, including smaller, underserved cities. TCS operates a branchless model, attracting customers online and through direct mail, and servicing customers through its cutting edge Internet bank and call centre. TCS’s credit card market share is almost 7% in 2012 with over 3 million credit cards issued and over 2 billion dollars in assets.