International private equity firm Finstar Financial Group (Finstar) has backed a 50 million investment in Digital Finance International (DFI), a digital lending solution developer, to help the latter expand its presence in the Asia Pacific (APAC).
Additionally, Finstar plans to add to its fintech portfolio via a commitment of 150 million to the financial technology space over the next five years, it said in a statement on 13 December.
DFI will use the $50 million investment to expand its consumer lending solution in Asia, with a focus on broadening its international presence in mobile-first consumer finance in South-East Asia. This will see the roll-out of DFI operations in several large Asian economies is planned for the near future.
Oleg Boyko, Finstar’s executive chairman and founder, said: “The rapid growth in consumer demand across the Emerging Markets offers exciting opportunities for fintech-enabled disruptive lending technologies. With our market-leading expertise, Finstar can capitalize on these emerging trends.”
Founded in 1996, the PE firm has a presence in Europe, the US, Asia, Latin America and the Commonwealth of Independent States (CIS). Its investment strategy sees the PE firm focus on the acquisition of majority stakes in rapidly growing financial technology and financial services firms with proven business models in promising segments and led by capable founding partners. Its minimum deal size is $20 million with a maximum deal size of $200 million.