Fusion Factor Fintech Limited agreed to acquire Russian assets of JSC Qiwi for RUB 23.8 billion on January 19, 2024. Payment on the deal will be made in several installments over four years, including 11.875 billion rubles within four months after entering into the transaction and the remaining 11.875 billion rubles in four equal annual installments starting in the fourth quarter of 2024. Upon closing of the transaction, Protopopov will immediately resign his offices as a director and the CEO of Qiwi but will continue to head the business of JSC Qiwi. The group's current CFO, Alexei Maschenkov will be appointed as the successor CEO of Qiwi, and Elena Nikonova, currently his deputy, will be appointed as the CFO of the Company. TThe deal has been approved by Russian regulators and Qiwi's board of directors.

Fusion Factor Fintech Limited completed the acquisition of Russian assets of JSC Qiwi on January 29, 2024. The price of the Transaction was RUB 23.75 billion to be paid in several installments over four years. 100% of the shares of the Buyer were pledged in favor of the Company to secure the payment of the Transaction price. As of April 3, 2024, The Deposit Insurance Agency (DIA) filed a lawsuit against the owners of Qiwi Bank, namely JSC Qiwi, Fusion Factor Fintech Limited, and Qiwi plc seeking to invalidate the contract of pledge and encumbrance of JSC Qiwi's shares as well as challenge the sale and purchase agreement for these shares and the Moscow Arbitration Court has ruled against the DIA's request to seize the shares as an injunctive measure in the lawsuit.