VC firm Mangrove Capital Partners has invested in Beaucoup.ru, a group purchasing site for all things health and beauty. The word comes from Yakov on the Quintura blog (Mangrove has also backed Quintura).
According to Yakov, the deal size is approximately $1 million, and Direct Group and Global Buying Group reportedly also chipped in.
TechCrunch readers will be instantly familiar with the model Beaucoup.ru is applying to the health and beauty vertical. The site offers daily deals with significant discounts for spa treatments and whatnot in Moscow, and soon, more cities in Russia.
Beaucoup.ru is a project of Fast Lane Ventures, a business incubator founded by Pascal Clément of Direct Group and Oskar Hartmann, founder of online shopping club KupiVIP.ru.
For Mangrove, this is hardly the first investment in Russia – they’ve also backed Quintura, as mentioned, as well as social gaming startup Drimmi and ecommerce play KupiVIP.ru.