Finstar to Invest USD150 Millon in Fintech
Finstar Financial Group will invest USD150 million into new financial technology startups over the next five years, Oleg Boyko, the Chairman of Finstar, has confirmed. The money will also be used for research and development (R&D) within the Group’s portfolio companies.
Global investment in financial technology startups increased to USD12.7 billion last year, according to the CB Insights Global Fintech Report 2016 . Finstar is at the vanguard of this swift growth, with its global presence and wealth of experience in the sector. The pledge to invest USD150 million into fintech startups and in-house R&D is part of the Group’s wider commitment to expanding and improving its fintech offering. Finstar’s primary markets are Europe, Latin America, South-East and South Asia.
Commenting on the news, Oleg Boyko said:
“We will finance direct investment in startups, contributions to SMEs, and research and development of cutting-edge fintech within our own companies. As far as the startup component is concerned, we are targeting three to six deals per year, in the seed to Series A rounds, typically ranging from USD500,000 to USD30 million. Our R&D investment is about pushing financial technology further and leveraging that innovation across our already strong fintech portfolio. This means that – beyond our financial commitment to the sector – the businesses we work with benefit from the strength of our technical resources and the depth of our expertise.”
Over the past two years, Finstar Financial Group has started strategic cooperation with European fintech companies Spotcap, Euroloan, Viventor and Rocket10. It has also expanded its collaboration with fintech entrepreneurs through FinstarLabs. FinstarLabs focusses its efforts on developing ground-breaking fintech, adtech and big data innovations, as well as identifying, investing in, and incubating leading fintech start-ups and entrepreneurs.
In 2015, Finstar launched its own portfolio company, Digital Finance International, with the aim of applying the most advanced technological solutions to deliver tailored consumer lending solutions globally.
Finstar Financial Group is an international private equity group. Founded in 1996, the Group has significant experience in launching start-ups, corporate restructuring and expansion projects. Finstar operates in the financial services, IT, consumer retail and real estate sectors. Since its foundation, Finstar has developed substantial operational experience and specializes in a value-added strategy of introducing global best practices for corporate governance, innovation and marketing to companies.
More about Finstar: http://finstar.com/ .
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
JANSSEN16.11.2018 14:17 | pressemeddelelse
Janssen receives positive CHMP opinion for ERLEADA™ (apalutamide) for patients with non-metastatic castration-resistant prostate cancer who are at high risk of developing metastatic disease
VERTEX-PHARMA16.11.2018 13:59 | pressemeddelelse
Vertex Receives European CHMP Positive Opinion for ORKAMBI® (lumacaftor/ivacaftor) for Treatment of Children with Cystic Fibrosis Aged 2 to 5 Years Old with Most Common Form of the Disease
DIMENSION-DATA16.11.2018 09:02 | pressemeddelelse
Dimension Data Global Delivery Centre (GDC) in Prague wins the ABSL 2018 Diamond Award for Business Innovation
DC-LEOSAT16.11.2018 07:02 | pressemeddelelse
FCC Grants LeoSat U.S. Market Access
CO-MPEG-LA16.11.2018 06:03 | pressemeddelelse
German Court Rules Huawei, ZTE Products Infringe AVC Patents
NY-INTERNATIONAL-FLAVORS15.11.2018 22:17 | pressemeddelelse
IFF-LMR Naturals Leads Industry with 90 Certified Vegan Natural Extracts
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum