SHUAA Capital psc, the leading asset management and investment banking platform in the region, has successfully completed a strategic investment in UAE-based fintech, Souqalmal. The investment will provide growth capital, allowing Souqalmal to execute on an ambitious growth plan over the next 24 months. Following the investment, Ambareen Musa, Founder and CEO of Souqalmal, will continue to lead the business and oversea the expansion of its services. SHUAA joins existing strategic investors Riyad Capital and UK comparison website GoCompare, which will remain shareholders in Souqalmal.
This investment supports SHUAA’s strategy to increase its digital offerings and enhance personal finance and investment opportunities for the consumer. At the same time, this vision is aligned with Souqalmal’s future growth, as the Company looks to strengthen its offering and develop a personal financial management platform that will include financial education and awareness.
Souqalmal launched the first corporate financial education program for employees last year through its MoneyDoctor Program, the first of its kind in the region, and is recognized as the leading authority in the industry when it comes to representing the voice of the customer with financial institutions. This program is the first step in delivering its vision of allowing customers to educate themselves, get instant pre-approval on their credit products, track their spending, and grow their wealth, all on one platform. SHUAA Capital psc is a leading asset management and investment banking platform. SHUAA Capital psc is recognized for its strong track record and pioneering approach to investing through a differentiated, innovative, and global product offering focused on public and private markets, debt, and real estate. Souqalmal.com is the most-trusted insurance and banking comparison website in the region, allowing users to compare personal finance products such as credit cards, loans, bank accounts and insurance.