Stockholm, 2015-12-16 08:00 CET (GLOBE NEWSWIRE) --
Vostok Emerging Finance (VEF) today announces that the Company has exercised its option to invest an additional USD 2.5 mln into two of Russia’s more innovative and fastest growing fintech companies, REVO and Sorsdata. Following the investment, VEF now holds a 25% stake in each company.
REVO is a first mover in Russia to leverage mobile internet and latest cloud technologies to deliver instant store finance services for leading merchants and health services providers in small ticket categories, segments with over USD 100 bn of annual sales.
REVO’s sister company, Sorsdata, seeks to leverage proprietary customer data and advanced digital marketing technologies to deliver personalized marketing services for merchants. This is a domain that is deep in developed markets but is only early stages in Russia and Sorsdata is well placed to be a market leader in this growth segment.
Vostok Emerging Finance’s Managing Director Dave Nangle comments:
“On the back of our recently completed rights issue, as planned and communicated to the market, we have exercised our option to increase our ownership to 25% in REVO and Sorsdata. In the short period of time since our initial investment, REVO has continued to grow at an impressive pace and deliver on our expectations. We look forward to supporting the company and its management in the years to come.”
Dave Nangle, Managing Director
For further information, please contact: Björn von Sivers, Investor Relations, Tel +46 (0)8 545 015 50
Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.
Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB.
