Newly launched FinTech platform Stanhope Financial Group has bagged $3.5m in funding to support the release of its banking services for small and medium enterprises (SMEs).
The FinTech, which is based in Ireland, claims to have released the world’s first combined tier one banking services aimed at the SME space.
Its platform offers a selection of tool, including FX payments, treasury services and access to financing. Stanhope also hopes to offer business-to-business payments services.
With the support of the equity injection, the company is looking to launch an on-the-ground specialist subsidiary companies in Dubai. This division will serve the UAE, Asia, and African markets with investment products and solutions.
It will also support operations in Lithuania, serving European customers in global payments and FX.
Stanhope Financial Group managing director Khalid Talukder said, “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.”
The FinTech will focus on both treasury management solutions and international transactional banking, to give its clients access to global payment services, payment schemes and foreign exchange services.
Stanhope Financial Group CEO Kevin von Neuschatz 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.”
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