OLEG BOYKO


You can't be an entrepreneur without a tolerance for risk. Business decisions involve taking risks, often many times a day. Playing it too safe can hold you back from big breakthroughs.

Professional Career

Oleg Boyko has over 40 years of experience in entrepreneurship and private investments across financial services, banking, retail, metallurgy, real estate, and the entertainment industry. He is currently the Chairman of the Board of Directors of the international investment group Finstar Financial Group.

The company’s investment geography spans more than 30 countries. Finstar’s estimated assets are worth about $2 billion, including investments in sectors such as financial technology, digital services, online lending, and retail.

In 1996, Oleg Boyko and a team of professional managers founded Finstar Financial Group as an investment and management company with the goal of identifying, investing in, and actively managing businesses on behalf of Boyko himself and other private investors.

Oleg Boyko also had investment experience in the industrial sector. In 1999, he acquired a minority stake in EvrazHolding, partnered with Alexander Abramov, and later exited the ferrous metallurgy industry to focus on developing other business areas.

In a media interview, investor Oleg Boyko stated:

"I sold my stake in EvrazHolding in 2004 to focus on developing other businesses because I prefer more intellectual games. I have always been attracted to complex finance and retail. They are harder to develop and transform, but I find them much more interesting."

In 2005, at the age of 40, Boyko first entered the Forbes list of the 100 richest businessmen, ranking 31st with a fortune of $960 million.

Today, Finstar Financial Group specializes in advising portfolio companies and assets mainly in financial services (alternative banking solutions and fintech) and retail, operating in Europe, Asia, and the CIS countries.

“Our investment group operates under the following model: we find a segment with high return potential and look for a small company that occupies a unique market niche or has valuable know-how. Then we acquire 51% to 75% of shares – this range allows us to manage the company at our discretion and maximize profit upon exit,” says Oleg Boyko.

After many years of investing in the traditional banking sector, the focus has now shifted toward fintech and digital financial services—a fast-growing industry where deep knowledge allows the company to identify best practices and become a valuable senior partner for new financial projects.

According to international businessman Oleg Boyko, clients increasingly expect financial service providers to deliver maximum speed and convenience: access anytime, from anywhere, and on their terms. The alternative financial industry was the first to respond to these demands.

Fintech is a key element of Oleg Boyko’s five-year investment plan. In 2017, he allocated $150 million to fintech development to strengthen Finstar’s international presence in the APAC consumer lending market.

The goal is to strengthen the Group’s position in innovative consumer technologies and expand the portfolio in the rapidly growing emerging markets of Europe and the Asia-Pacific region. A year earlier, Boyko had already invested in several European fintech companies.

Boyko also notes:Talent acquisition is critical. An experienced local specialist is essential for success. Cultural nuances cannot be overlooked—understanding local traditions and language fosters strong connections. Additionally, some countries place a strong emphasis on gender balance in lending and financial services.

The focus should be on service, not corporate values—consumers want convenient solutions, not a company’s philosophy. While automation is important, customers should not feel it as a forced technological imposition.

Cultural barriers should not be overlooked. A specialist working on-site should be mentally aligned with the local culture, loyal to both the company and the local community. Ideally, this should be a fintech expert with deep regional experience, knowledge of business etiquette, an understanding of local government processes, and free from the illusions of a newcomer.

Language proficiency is also crucial. The extent of English penetration is often overestimated, and if language barriers exist even in Europe, then in Africa or Asia, knowledge of the local language, or at least a willingness to learn it, is a necessity. Also, cultural awareness is important, as interpretations of gestures and behaviors vary widely. For example, a hand gesture that signifies “OK” in Western countries is considered a curse or an evil eye symbol in Kuwait and other Arab nations.

Oleg Boyko describes the investment strategy of his international private equity company:

“Finstar is not tied to a specific stage of business development, but the main focus will be on early stages—from seed to Series B. We will focus on transformational platforms and businesses in financial services. In addition to fintech and insurtech, we are also interested in models that complement fintech, such as AI, data analytics, AdTech, and MarTech.”

Finstar’s partnership philosophy brings strategic value and expertise to growth investments, enabling companies to succeed in complex emerging markets.

Oleg Boyko ranks 1561st on the Forbes list of the world’s richest people, with a net worth estimated at $1.5 billion.

 

 

Film Industry

Mr. Boyko also lived in Hollywood and co-produced the film “Sin City: A Dame to Kill For”.

“Of course. I went to Hollywood and lived there for six months. I wanted not just to make a film but to understand how the film industry works. I must say, many things surprised me. I bought a pile of books, and on the very first page of one of them, in large print (I quote from memory): ‘People invest in films mainly for emotional reasons—out of a desire to touch art. Someone has to bear the creative risks.’ The most important and unpleasant law of the film industry: out of ten films made, seven lose money, one breaks even, and only two make a profit. So, essentially, it’s venture capital.”
— Oleg Boyko, Forbes magazine

The film Sin City 2 was released in August 2014. After the first part came out in 2005, director Robert Rodriguez announced plans for a sequel, but filming only began in autumn 2012. In 2014, at Comic-Con, Frank Miller revealed that he and Rodriguez were discussing the possibility of making a third part.

 

Oleg Boyko as Chairman of Finstar Financial Group

In 1996, Boyko and a team of top managers founded Finstar Financial Group as an investment and management company.

  • In 2002, the company founded Ritzio Entertainment Group, which became the largest entertainment company in Eastern Europe.
  • In 2003, Finstar acquired a controlling stake in the Latvian Baltic Trust Bank (BTB). By 2006, BTB ranked 13th out of 24 Latvian banks by assets and had one of the largest branch networks—74 branches. Later, a 79% stake was sold to GE Capital, the financial arm of General Electric.
  • In 2004, a 25% stake in the international steel conglomerate Evraz was sold to the company’s management.
  • In 2007, under Boyko’s management, Finstar acquired 75% of Russia’s second-largest perfume and cosmetics chain, Rive Gauche. By 2012, the chain had 190 stores. Later, a 51% stake was sold to investors.
  • In 2013, Boyko announced investments in FashionTV, a fashion and lifestyle channel broadcasting in 192 countries and over 7 million public venues.
  • In 2012, investments were made in the Latvian company 4finance. In early 2015, the stake was reduced from 75% to 49%. In 2022, the company was sold.
  • In 2016, Finstar continued technological investments in European fintech projects, acquiring 51% of Prestamos Prima and leading the third investment round of Spotcap.
  • In 2017, investments in the APAC region were made, allocating $150 million for fintech development to strengthen Finstar’s international presence.

Today, Finstar’s assets under management are valued at approximately $2 billion. The company is diversified: fintech, real estate, entertainment, IT, retail brands, and more. Finstar aims to become a major player in the rapidly growing fintech industry.