Rocket10, headquartered in Moscow, will use the fresh round of funding to increase its push into the US and Asia, further develop its ad and marketing tech as well as focus on programmatic buying, automation, and VR.
“The transaction will significantly strengthen Rocket10 as we launch a joint venture in the US and expand our presence in Asia,” said Rocket10 founder Boris Abaev.
According to Abaev, 40% of its business is from the US and 30% from China. The company has opened offices in San Francisco and Shanghai and earlier this year acquired fellow Russian adtech startup EveryAds (Russian).
Finstar is focused on investments in the financial sector and has a particular interest in fintech, said Oleg Boyko, chairman of Finstar.
“I strongly believe that this deal will allow the businesses to benefit from a range of first-rate digital advertising technology – especially our fintech-focused companies who are launching and growing in emerging markets,” he explained.