Finstar Financial Group, a fintech-focused private equity group firm by Russian billionaire Oleg Boyko, has invested $3m in mobile marketing agency Rocket10.
The investment forms part of Finstar’s strategy to use mobile technology to grow its fintech business.
It is expected that Rocket10 will allow other Finstar’s portfolio companies to reach their customers in a more effective and cost-efficient manner.
“I strongly believe that this deal will allow the businesses to benefit from a range of first-rate digital advertising technology – especially our fintech-focused companies who are launching and growing in emerging markets,” said Boyko.
Rocket10 will use the funds from its partnership with Finstar to accelerate its advertising and marketing tech developments, focusing on programmatic buying, buying-automation and virtual reality technologies.
Rocket10 has offices in Moscow, Shanghai, San Francisco and plans to open a new one in New York in early 2017.