Shuaa acquires UAE fintech | Arabian Post

Arabian Put up Workers

SHUAA Capital has efficiently accomplished a strategic funding in UAE-based fintech, Souqalmal. The funding will present progress capital, permitting Souqalmal to execute on an formidable progress plan over the following 24 months.

Following the funding, Ambareen Musa, Founder and CEO of Souqalmal, will proceed to steer the enterprise and oversea the growth of its companies. SHUAA joins current strategic traders Riyad Capital and UK comparability web site GoCompare, which can stay shareholders in Souqalmal.

This funding helps SHUAA’s technique to extend its digital choices and improve private finance and funding alternatives for the patron. On the identical time, this imaginative and prescient is aligned with Souqalmal’s future progress, because the Firm appears to strengthen its providing and develop a private monetary administration platform that can embody monetary schooling and consciousness.

Souqalmal launched the primary company monetary schooling program for workers final yr by its MoneyDoctor Program, the primary of its sort within the area, and is acknowledged because the main authority within the trade in terms of representing the voice of the shopper with monetary establishments.  This program is step one in delivering its imaginative and prescient of permitting prospects to teach themselves, get instantaneous pre-approval on their credit score merchandise, monitor their spending and develop their wealth, all on one platform.

Firms similar to MAF, Careem, Emirates Catering at the moment are all providing the MoneyDoctor Program to their workers ensuring that monetary well being is a giant a part of worker wellness. Monetary points are amongst the best causes of stress and decreased productiveness within the office, and as we emerge from the final 2 years of the COVID-19 pandemic, monetary well being has taken on larger significance for workers and is a vital issue for CEO’s to contemplate when it comes to worker retention and wellness.

Additionally printed on Medium.