Finstar Financial Group, a private equity firm headquartered in Moscow, will be investing $150m in FinTech startups over the next five years.
Led by Russian chairman Oleg Boyko, the group will be targeting fast growth SMEs and will seek to support the R&D capabilities of its portfolio companies.
Founded in 1996, the group says its primary markets are Europe, Latin America, South-East and South Asia.
Oleg Boyko, Finstar’s founder and chairman, said: “The UK, and London in particular, has firmly established itself as one of the leading markets in global FinTech.
“We have actively been exploring the opportunities UK and European FinTech have to offer, and we think there’s more to come.
“We see the culture and community built around the FinTech industry as one which is continually bearing fruit. Our decision to increase our investment in the FinTech space, we know, means more exciting times ahead for Finstar and the chance to work closely with industry pioneers and truly innovative technologies.”
He then went on to note that the group will be looking to close three to six deals a year, in the Seed to Series B stages. The firm’s investments, Boyko added, will typically range from $500,000 to $30m.
The firm will also target financial technology-enabled models within the AI, data science, AdTech and MarTech spaces.
Source: http://techcitynews.com/2017/07/19/private-equity-firm-finstar-financial-group-to-invest-150m-in-fintech-startups/
