United Fintech Group, headquartered in London, has announced a significant investment from Standard Chartered to advance its digital transformation initiatives.
United Fintech specializes as a neutral Digital Transformation platform, acquiring and partnering with FinTech companies within the capital markets sector to create a comprehensive FinTech hub. This hub facilitates collaboration among banks, hedge funds, and asset managers by innovating with other leading technology providers.
The investment will support Standard Chartered’s strategic ambitions to promote digital transformation solutions across capital markets, wholesale banking, wealth management, and the broader financial services industry. Through this investment, Standard Chartered has secured Board observer rights and, upon meeting specific pre-conditions, will also obtain a rotational Board seat. This arrangement will allow the bank to contribute its expertise and influence the strategic direction of United Fintech.
United Fintech has been at the forefront of FinTech innovation since its founding in 2020. It has successfully integrated several engineering-led FinTech companies under its umbrella, focusing on revolutionizing Capital Markets, Wholesale Banking, and Wealth Management. The company continues to explore strategic acquisitions to drive digital innovation and offer transformative solutions that enhance the capabilities of financial institutions globally.
Geoff Kot, Global Head, CIB Business Platforms & Partnerships at Standard Chartered, expressed enthusiasm about the partnership, noting the impressive growth of United Fintech’s portfolio. “We have been impressed by the growth in United Fintech’s portfolio of innovative, engineering-led technology companies and share their vision for how technology can transform and disrupt market structure and infrastructure. We look forward to partnering with them as we continue on our journey of digital transformation.”
Christian Frahm, CEO and Founder of United Fintech, said, “The investment underscores Standard Chartered’s commitment to accelerate digital transformation and highlights their forward-thinking approach to collaborative innovation. As an Asia-focused multinational bank with an expansive footprint in Asia, Africa, Middle East, Europe and Americas, we are thrilled to have them complete our circle of global investors, joining Citi and BNP Paribas, who initially invested in February 2024, as well as Danske Bank, who followed in May.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
