UAE’s SHUAA Capital completes strategic investment in Souqalmal

UAE’s SHUAA Capital completes strategic investment in Souqalmal

UAE-based leading asset management and investment banking platform, SHUAA Capital has successfully completed a strategic investment in UAE-based fintech, Souqalmal, to provide growth capital, which will allow the firm to execute an ambitious growth plan over the next 24 months.

Following the investment, the founder and CEO of Souqalmal, Ms. Ambareen Musa will continue to lead the business and supervise the expansion of its services. SHUAA joins existing strategic investors Riyad Capital and UK comparison website GoCompare, which will remain shareholders in Souqalmal.

This new investment supports SHUAA’s strategy to maximize digital offerings and enhance individual financial and investment opportunities for customers. Meanwhile, as the company seeks to strengthen its offer and develop a personalized financial management platform that includes financial education and awareness, this vision is aligned with the future growth of Souqalmal.

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