MMW learned this week that Finstar Financial Group — a fintech-focused international private equity group — is putting its money where mobile is.
The company has just announced that it has invested $3 million in Rocket10, a rapidly growing mobile marketing agency.
This investment forms part of Finstar’s strategy to use mobile technology to grow its fintech businesses.
As part of the venture investment, Finstar will utilize Rocket10’s mobile marketing technology across the Group’s portfolio of companies.
Why the investment? Why now?
The majority of consumers across Europe now predominantly use their mobile phones to make purchases and access their banking services. The investment in Rocket10 – a profitable, high-growth business at the frontier of mobile technology innovation – conveys Finstar’s commitment to strengthening its mobile competencies in a mobile-first world. Rocket10’s global reach and expertise will allow Finstar’s portfolio companies to reach their customers in a more effective and more cost-efficient manner.
We’re told that 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.
