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Russian investor outlines first phase of $150m fintech investment scheme

Finstar Financial Group will target consumer lenders in Southeast Asia.

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The first phase of a global fintech investment plan is under way. Finstar Financial Group is looking to invest $50m in consumer lenders in the APAC region.

Finstar is a Russian private equity firm and an investor in alternative lenders Spotcap and Viventor. The company announced its intention to invest $150m across the fintech sector globally in July, saying that it would target seed-stage to series A rounds, with amounts ranging from $500k to $30m.

The group, which was founded by Oleg Boyko (pictured), will be acting via the newly-formed operating business Digital Finance International (DFI). The $50m that has been set aside will be used to invest in mobile-first consumer finance firms across Southeast Asia. The rollout of DFI across several Asian geographies has been planned for next year.

Finstar explains that DFI’s ethos is centred on responsible lending, allowing underserved consumers in developing markets to access finance on reasonable, transparent and fully compliant terms.

“We’re thrilled to announce our latest investment commitment in DFI and Southeast Asia,” said Boyko. “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.”

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