Moscow Based Life.SREDA Sees a Global Opportunity in Financial Tech

October 15, 2014

10:30 am

It’s easy to forget that the tech startup ecosystem extends well beyond the borders of the United States. But the Moscow based VC firm Life.SREDA today announced the launch of their second round of funding: Life.SREDA II, reminding us all to keep our eyes open for international startup opportunities.

The VC firm focuses primarily on investments in the mobile and online fintech space, and their new $100 million fund will be aimed at foreign, mature startups in the market, focusing specifically on America. The current stakeholders in Life.SREDA have already provided $20 million for the new fund.

Current investments by Life.SREDA include the Anthemis Group, a holding company for fintech companies like Betterment and Etoro, and Simple which was acquired for $117 million in February of 2014 by the BBVA Group.

“By launching Life.SREDA II, we are aiming at large banks that want to transform themselves to keep up with the increasingly innovative technological marketplace. It is more profitable for them to acquire a fully baked fintech startup rather than create innovations on their own,” says Vladislav Solodkity, Managing Partner at Life.SREDA. “We’re seeing a truly global opportunity in fintech, starting in the USA – as Simple proved – and then spreading throughout the world.”

According to their research, the team at Life.SREDA has seen the volume of investments in the financial tech industry double annually; in 2012 it was at $1 billion total before rising to $2.2 billion in 2013. Further, their quarter one estimates for 2014 show that the industry has already reached $2.6 billion.

The average check for each investment by Life.SREDA II is expected to be in the $5 to $10 million range for US and European projects, with approximately 10 percent of the total funding allocated for Russian projects. It’s also assumed by the team that new investors involved in Life.SREDA will not only provide funding, but also become partners in launching European, US, and Asian fintech startups abroad.

 

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Will is a Senior Writer with Tech.Co, based out of America's Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He's the resident Android junkie and will be happy to tell you why you should switch to the OS. When he's off the clock, Will focuses his literary talent on the art of creative writing...or you might find him surfing in Ocean Beach. Follow Will on Twitter @WJS1988

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