Nova Founders Capital has raised USD 50 million from an investment company Hong Kong’s Pacific Century Group. The raised funds will be used to boost fintech in Asia. Nova Founders Capital is a venture of Rocket internet alumni Mads Faurholt-Jorgensen and Raphael Strautch, and majorly invests in Asian countries
“Fintech is the largest remaining Internet frontier, presenting massive opportunities across Europe, Latin America, and Asia in particular, We have so far identified twenty two billion dollar [sic] opportunities in financial services internet models worldwide. We have already begun work to build and invest in [the] first five of them. We firmly believe that the next tech superstars will come from the fintech industry,” said Faurholt-Jorgensen.
As per a Tech in Asia report, its portfolio includes CompareHero, Redape, Glasses Group Global, Loin & Loin and the Compare Asia Group, which runs a batch of financial product comparison sites in Taiwan, Singapore, Hong Kong, Malaysia, Vietnam, the Philippines, Thailand, and Indonesia. The other companies which are Co-founded by its management team are Zalora, Zanui, The Iconic, GroupOn, FoodPanda, Lazada, Jabong.com, HelloFresh.