Vostok Emerging Finance Announces Twin Investments in Revo and Sordata
- Vostok Emerging Finance has announced a $2.5 million investment as they take stakes in Russian merchant finance firms Revo and Sorsdata.
Vostok Emerging Finance (VEF) has announced its first investment deals since splitting into a standalone venture. Previously part of Vostok New Ventures, VEF split away this summer to become an investment fund focused exclusively on the financial services sector.
Russian merchant finance firms Revo and Sorsdata are becoming VEF’s first two Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term investments since the split. The two firms are related. Revo has merchants who provide solutions in-store, and the firm also offers checkout incentives such as loyalty points or additional savings to their customers. With the advancement of mobile internet data collection such as user locations, the ability for merchants to offer solutions and incentives to customers that are near or within their stores has become an emerging area of technology within the fintech and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term sector.
A sister company to Revo, Sorsdata is involved in the big data market space. Aggregating consumer data, Sorsdata provides solutions for merchants to send personalized marketing messages to their customers.
According to VEF, they are investing a total of $2.5 million in Revo and Sorsdata for a 12.5% stake in each firm. The deal provides VEF the ability to increase their stake to 25% by year end 2015.
Dave Nangle, Managing Director of VEF, commented on the investment: “We are very excited to announce Vostok Emerging Finance’s first investments since its split and separate listing from Vostok New Ventures earlier this summer. The investment in Revo and Sorsdata fits with our investment remit, as well as our focus to invest in strong management teams as much as strong scalable concepts. We look forward to working with and supporting the company in the years to come.”
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Vostok Emerging Finance (VEF) has announced its first investment deals since splitting into a standalone venture. Previously part of Vostok New Ventures, VEF split away this summer to become an investment fund focused exclusively on the financial services sector.
Russian merchant finance firms Revo and Sorsdata are becoming VEF’s first two Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term investments since the split. The two firms are related. Revo has merchants who provide solutions in-store, and the firm also offers checkout incentives such as loyalty points or additional savings to their customers. With the advancement of mobile internet data collection such as user locations, the ability for merchants to offer solutions and incentives to customers that are near or within their stores has become an emerging area of technology within the fintech and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term sector.
A sister company to Revo, Sorsdata is involved in the big data market space. Aggregating consumer data, Sorsdata provides solutions for merchants to send personalized marketing messages to their customers.
According to VEF, they are investing a total of $2.5 million in Revo and Sorsdata for a 12.5% stake in each firm. The deal provides VEF the ability to increase their stake to 25% by year end 2015.
Dave Nangle, Managing Director of VEF, commented on the investment: “We are very excited to announce Vostok Emerging Finance’s first investments since its split and separate listing from Vostok New Ventures earlier this summer. The investment in Revo and Sorsdata fits with our investment remit, as well as our focus to invest in strong management teams as much as strong scalable concepts. We look forward to working with and supporting the company in the years to come.”