Rocketbank
A Russian neobank brand built around mobile banking, cards, payments, and a youth-oriented digital customer experience.
Last updated August 25, 2026
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History
Rocketbank emerged in 2012 during the expansion of Russia's consumer-fintech and mobile-banking market. Its founders conceived it as an application for payments and transfers, with the broader ambition of making routine banking more convenient for younger, digitally oriented customers. Rather than creating a traditional branch network, the project used a partner-bank license and concentrated its resources on software, customer experience, card products, and remote service. The service entered beta testing in March 2013 through Intercommerce Bank. Its informal tone and mobile-first design helped it stand out from established banks, and it became associated with a youthful urban audience. Runa Capital provided approximately $2 million in venture funding by 2014. The investment supported additional functionality and regional expansion, while transaction volume reportedly exceeded 1 billion rubles. Rocketbank's dependence on a licensed banking partner became a major vulnerability when Intercommerce Bank lost its license in 2015. The disruption prompted the founders and investors to seek a more stable institutional arrangement. In April 2016, Otkritie FC Bank purchased 100 percent of the service from the founders and Runa Capital for 300 million rubles. Otkritie presented Rocketbank as a digital platform that could bring younger customers into its broader banking ecosystem. At the time, the service had around 100,000 users. The next ownership change came in August 2017, when QIWI Group purchased Rocketbank's brand, technology, and client base from Otkritie, alongside Tochka. The deal took place while Otkritie was undergoing a financial-sanitation process. Rocketbank customers were subsequently moved to QIWI Bank's license, with the migration completed in July 2018. The transition was accompanied by technical and operational difficulties, including account transfers and changes in how the service fitted within QIWI's ecosystem. A major card outage in August 2017, attributed by the company to a cable failure at a Moscow data center, further affected perceptions of reliability. Under QIWI, Rocketbank continued as a retail digital bank but struggled to produce sustainable margins. Critics argued that customer acquisition and retention were too expensive, while its product range did not provide sufficient investment, savings, or lending depth to compete with large digital banks. QIWI's reported loss figures rose from roughly 1 billion rubles in 2018 to approximately 2.3 billion rubles in 2019. The brand also faced criticism for being too narrowly associated with a fashionable or “hipster” audience, potentially limiting its ability to scale beyond an early-adopter segment. Customers complained that successive ownership changes weakened the independent identity and personal service associated with the original project. In March 2020, QIWI announced that Rocketbank would be wound down because no viable buyer had been found and the business was not aligned with QIWI's strategy. From April 1, the service introduced paid tariffs, ended its loyalty program, and stopped accepting new customers. Remaining active accounts, estimated at about 43,000, were transferred to other financial institutions, including Tinkoff Bank, by the end of the year. Rocketbank's original operation closed in January 2021. The brand later returned to the market as an asset rather than as a continuation of the original operating company. Sovcombank reportedly acquired rights to the Rocket brand and platform in November 2024. In May 2025, the bank announced plans to restart the service under its license, with a refreshed team that reportedly included Blank Bank co-founders Anton Zakharov and Robert Sabiryanov. The proposed relaunch was to focus on retail cards, deposits, and loans in Moscow and Saint Petersburg while preserving a degree of brand autonomy. The available material does not confirm whether the relaunch occurred as planned, so the brand's current operating status remains unverified.
- 2025
Relaunch is announced
[1]A relaunch under Sovcombank's license is announced for July, with a retail focus in Moscow and Saint Petersburg.
- 2024
Sovcombank acquires the Rocket platform
[1]Sovcombank reportedly acquires rights to the brand and platform.
- 2021
Original Rocketbank operation closes
[1]Account transfers conclude and the original service formally shuts down in January.
- 2020
QIWI begins winding down the service
[1]New customer onboarding stops, paid tariffs are introduced, and the loyalty program is discontinued.
- 2018
Customer migration to QIWI Bank is completed
[1]Rocketbank's customers are transferred to QIWI Bank's license.
- 2017
QIWI acquires the brand and technology
[1]QIWI purchases Rocketbank and Tochka assets from Otkritie for a reported 700 million rubles.
- 2016
Otkritie acquires Rocketbank
[1]Otkritie FC Bank acquires the service from its founders and Runa Capital for a reported 300 million rubles.
- 2015
Partner-bank license is revoked
[1]Intercommerce Bank loses its banking license, forcing Rocketbank to seek a new institutional arrangement.
- 2014
Early venture financing supports expansion
[1]Runa Capital's reported investment reaches approximately $2 million, while transaction volume exceeds 1 billion rubles.
- 2013
Beta service begins
[1]Rocketbank begins beta testing under Intercommerce Bank's license.
Products and positioning
A mobile-first Russian retail banking brand positioned as a simpler, more informal, and design-led alternative to conventional banks, initially aimed especially at younger urban customers.
Digital banking account · 2013
Rocketbank mobile account
Rocketbank's core proposition was a remotely managed retail bank account accessed primarily through a mobile application. The account supported routine payments, transfers, card management, and customer-service interactions without dependence on a branch network. Its simplicity and informal user experience were central to the brand's appeal, although the service depended on partner-bank infrastructure and licenses.
Payment cards · 2013
Rocketbank cards
Payment and debit cards were among Rocketbank's most visible customer products. They connected the mobile account to everyday spending and were supported by app-based controls and notifications. Card availability continued through the Otkritie and QIWI ownership periods, but the original card service ended when the bank was wound down in 2020–2021.
Payments · 2012
Rocketbank payments and transfers
The project originally began as a mobile tool for transfers and payments. These functions remained fundamental to its digital banking proposition, allowing customers to make routine transactions through a smartphone rather than through a traditional branch or call-center process.
Customer loyalty
Rocketbank loyalty program
Rocketbank used loyalty benefits as part of its effort to attract and retain retail customers. The program helped differentiate the service during its growth period, but QIWI discontinued it when the wind-down began in 2020. Critics viewed the program and other retention incentives as contributing to the service's high customer-acquisition and servicing costs.
Retail banking · 2025
Planned Rocketbank relaunch products
The announced Sovcombank relaunch was expected to offer retail cards, deposits, and loans under Sovcombank's license. The proposed service was aimed initially at customers in Moscow and Saint Petersburg. The supplied reference does not confirm the actual launch or the final product terms.
Controversies
2020
Closure and customer-retention backlash
The introduction of paid tariffs, cancellation of loyalty benefits, and suspension of new customer onboarding during the wind-down drew criticism from customers and fintech commentators. The episode was presented as evidence of Rocketbank's dependence on partners and the absence of a durable standalone business model.
2018
Criticism of expenditure explanations for account unlocking
Rocketbank faced criticism after introducing a practice that required some customers to explain cash expenditures before accounts could be unlocked. Opponents described the policy as intrusive and indicative of weaknesses in operational and compliance processes.
2017
Major card-service outage
A cable failure at a Moscow data center reportedly disrupted all Rocketbank cards. Although the company attributed the incident to an external infrastructure failure, customers and commentators questioned the resilience of the service's technical platform.
2013
Public dispute with Oleg Tinkov
From 2013 onward, Tinkoff Bank founder Oleg Tinkov publicly mocked Rocketbank's business model, at times characterizing it as commercially unviable and offering to buy it for a nominal amount. The dispute increased Rocketbank's public visibility but also highlighted doubts about its scale, differentiation, and profitability.
Brand decisions
2024
Sovcombank acquires Rocket rightsM&ABackground
The Rocket brand and platform remained available after the closure of the original service.
Action taken
Sovcombank reportedly acquired rights to the Rocket brand and platform and considered a substantial investment for a relaunch.
Aftermath
A relaunch was announced in 2025, but the available material does not confirm its completion or current operating scale.
Reported acquisition price. Approximately $1 million (November 2024)
2020
Wind down RocketbankStrategyBackground
QIWI concluded that Rocketbank lacked a viable buyer and that its business model did not fit the group's strategic priorities. Rising losses and competition from larger digital banks intensified the pressure.
Action taken
QIWI stopped onboarding new customers, introduced paid tariffs, ended the loyalty program, and transferred remaining accounts to other institutions.
Aftermath
Approximately 43,000 active accounts were transferred by the end of 2020, and the original Rocketbank service closed in January 2021.
Projected annual loss. Up to 1.5 billion rubles (2020 forecast)
2017
Transfer Rocketbank to QIWIM&ABackground
Otkritie was undergoing financial sanitation, while QIWI sought to expand its digital financial-services ecosystem.
Action taken
QIWI acquired Rocketbank's brand, technology, and customer base from Otkritie.
Aftermath
Customers were migrated to QIWI Bank's license, but the transition produced operational difficulties and did not resolve the service's profitability challenges.
Reported acquisition price. 700 million rubles (August 2017)
2016
Sell Rocketbank to OtkritieM&ABackground
The loss of Intercommerce Bank's license created a need for a new banking partner and a more stable institutional structure.
Action taken
The founders and Runa Capital sold the entire Rocketbank business to Otkritie FC Bank.
Aftermath
Rocketbank became a digital platform within a larger banking group and was used to attract younger retail customers.
Reported acquisition price. 300 million rubles (April 2016)
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