A new fintech firm targeting small and medium-sized enterprises (SMEs) in the region has launched in Dubai.
SH Capital Ltd (SHC), a subsidiary of Stanhope Financial Group, will be offering global banking services, asset management, foreign exchange (FX) hedging solutions, investment products and services to entrepreneurs.
Late last year, the group launched its $3.5 million funding, as well as its European Union (EU) headquarters in Lithuania.
In a statement on Thursday, the independent fintech firm said it had received a regulatory licensing from the Dubai Financial Services Authority (DFSA) and was set to begin trading by the end of the second quarter of 2020.
“SHC will act as intermediary for clients, helping them to access leading and global tier one cash investment products. The Stanhope team of leading industry experts will also advise on commercial paper, money market funds, futures, options, exchange traded funds and FX hedging solutions,” the firm said.
The company has also tied up with several global counterparties, exchanges and e-trading platforms to provide liquidity in the equity, FX, fixed income and commodity markets for clients.
Khalid Talukder, managing director of SH Capital, said they are perfectly placed to assist businesses in Dubai, particularly in terms of accessing global asset management and investment products.
“Dubai is quickly being recognised as a global hub of fintech and innovation, being home to some of the fastest growing, most exciting firms on the planet. With postponed Dubai Expo launching in the autumn of 2021, we are perfectly placed to support these businesses to maximise this global showcasing opportunity,” said Talukder.
Kevin von Neuschatz, group CEO of Stanhope Financial Group, said they will begin trading immediately.
“We’re excited to have received our operating licence and formally launch SH Capital LTd in Dubai. Our on-the-ground team of experts will begin trading immediately, providing ambitious businesses across the region with tier one banking and payments services,” he said.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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