Connect with us

Hi, what are you looking for?

Investing

Stanhope Financial Group Launches following $3.5m funding drive, offers SMEs tier one global banking services

Canary Wharf

Global fintech provider brings together global transaction banking, asset management, investment banking via a single digital platform

Today Stanhope Financial Group, a new fintech company launches as the world’s first combined tier one banking services provider targeting small and medium sized business on a global scale.

The company, which has raised $3.5m in its first funding round will offer a suite of specialist services, including FX payments, treasury services and access to financing, acting as an enabler for mid-market enterprises to access previously denied services from the big banks.  Stanhope will offer key business-to-business payments services via the company’s fintech platform targeting small and medium sized enterprises (SME/MMEs).

The company, which is registered in Dublin, Ireland, opens its doors with over 10 full time staff, including entrepreneur Kevin von Neuschatz, the former managing director of Small World Financial Services, and Capital Markets specialist Khalid Talukder, previously of UBS, Citi & Deutsche.

Stanhope Financial’s successful first funding round will enable the company to launch on-the-ground specialist subsidiary companies in Dubai, serving the UAE, Asia, and African markets with investment products and solutions as well as in Lithuania, serving European customers in global payments and FX. The company also has plans to apply for a licence to operate in the UK and other key markets in the coming months.

The company’s research has identified a clear market opportunity. Demand for access to short-term investment products and international payment rails (SEPA/CHAPS/SWIFT and Fedwire) and foreign currency to make local payments continues to outstrip current supply sources due to major global banks’ current lack of appetite.

The company will focus on both treasury management solutions and international transactional banking, giving its clients access to global payments services, payment schemes such as SEPA and deliverable foreign exchange services and financing opportunities. Stanhope’s key service offering will include dedicated local relationships in key markets, aggregation of payments and foreign exchange services as well as consultancy and e banking industry expertise.

Khalid Talukder, Managing director, Stanhope Financial Group told Business Matters, “With SMEs & MMEs around the world crying out for high quality payments and treasury solutions as well as access to finance in tough times, Stanhope will bridge the gap, empowering companies to expand and grow despite disruption caused by the pandemic.

We plan to build a truly global company, with on-the-ground initial operations opening in Dubai and Lithuania, serving key regions with first class services.”

Kevin von Neuschatz, Group CEO, Stanhope Financial Group said,  “Stanhope Financial will offer a game-changing service to clients, combining the efficiency of our powerful fintech platform alongside local expertise and quality consultancy to deliver real value for ambitious businesses. Our growth plan will enable us to build a truly global business, providing companies with much needed access to critical banking services.”

Read more:
Stanhope Financial Group Launches following $3.5m funding drive, offers SMEs tier one global banking services

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

By Diego Gabriel C. Robles THE Philippine economy expanded by 7.4% in the second quarter — slower than expected — as rising inflation weighed...

Economy

By Abigail Marie P. Yraola, Researcher THE Philippines’ merchandise trade deficit hit another record in June as imports continued to outpace exports despite a...

Economy

THE National Government’s (NG) outstanding debt as a share of the gross domestic product (GDP) eased to 62.1% at the end of June. Data...

Economy

By Keisha B. Ta-asan SOURED LOANS held by Philippine banks fell for a fourth straight month in June, bringing the nonperforming loan (NPL) ratio...

Economy

Smart says third telco player’s PCC complaint meant to avoid liability By Arjay L. Balinbin, Senior Reporter GLOBE Telecom, Inc. on Tuesday said it...

Economy

DMCI Holdings, Inc. reported on Tuesday that its second-quarter consolidated net income went up by 73% to P9.03 billion from P5.23 billion, driven by...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Investing

Instagram still holds the top spot for social media in terms of building brand reputation and expanding business potential. Every day, more and more...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.