Rocket10, the mobile marketing agency start-up has just received a $3m cash injection from Finstar Financial Group, the international private equity firm founded by Oleg Boyko. The investment forms part of the company’s strategy to use mobile tech to grow its fintech businesses. It further comes with the option to increase funding later down the line.
Rocket10 receives large funding from Finstar
Rocket10 will be implemented across Finstar’s portfolio of companies to offer more cost efficient mobile marketing and development opportunities.
Oleg Boyko, Founder and Chairman of Finstar Financial Group, explains:
“It is estimated that the number of mobile phone users will hit 4.77 billion in 2017. So mobile is becoming increasingly important, especially in the financial services sector. Our venture investment in Rocket10 will help Finstar’s portfolio companies to create deeper, more interactive engagements with consumers.”
Indeed, the majority of customers across Europe are now using their devices to purchase goods and access their financial services. By investing in Rocket10, Finstar has an opportunity to bolster its own mobile competencies, enabling its subsidiaries to reach audiences more effectively.
Rocket10 plans to use the funding to grow its mobile ad and marketing tech developments. It’s particularly focused on programmatic buying, automation as well as VR technologies.
Boris Abaev, Co-Founder of Rocket10, adds that the partnership will further help the mobile marketer to expand into Asia. He says:
“Our recent acquisition of the Everyads mobile platform and technology for $1.5 million showcases our commitment to innovation and the opening of offices in Shanghai and San Francisco have bolstered our international presence. These are strategic markets for us, with more than 30% of Rocket10’s business coming from China and 40% from the US.”