Da Vinci Capital invests in Russia’s Global Fintech Solutions
Global Fintech Solutions (GFS), a fintech platform aimed at transferring leading global technologies into emerging markets, raised a new funding round from several funds under the management of Da Vinci Capital and from its the portfolio group, ITI Funds. Investment group Prytek was a co-investor in the investment round.
GFS acquires exclusive licenses for global tech products for further technology transfer into the markets with low penetration and high growth potential, including Russia. Current product portfolio includes 7 core technologies. Company plans to enlarge its product portfolio twofold in 2018, boost its revenue to $20m in 2019 and conduct an IPO in two-three years at the international exchange.
GFS offices are located in Luxembourg, Russia and Israel.
‘Russian financial technology market is driven mainly from technological banks and other corporate market participants, but the level of development of fintech startups is not high enough to properly deliver technological solutions to such banks. — says Oleg Jelezko, managing partner at Da Vinci Capital. — We believe into the global opportunities for GFS as the platform for financial technologies development, and in a strong team, which can take the leading position on Russian fintech market.”
“Fintech sector is a flagship at the digital world economies, rapid development of fintech technology can drive further economic growth, therefore GFS focuses on the corporate innovations. Cooperation with Da Vinci Capital gives us an understanding that we are on the right way and technology transfer is one of the perspective areas for investments and strategy development.” — highlights Andrey Yashunsky, chief executive officer at GFS.