Dubai, United Arab Emirates, and New York, US – 8 November 2021 – Seed Group, a company of the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, has entered into a strategic partnership with New York-based financial services firm Stockal, to help it expand its business footprint in the UAE and the wider Middle East, and further create a digital ecosystem for regional companies to make investments across borders, seamlessly.
As part of the partnership, Seed Group will facilitate Stockal to connect with the right audience, find new potential customers, access top decision-makers in government as well as private sectors, and market its big data and artificial intelligence-driven financial technologies and services effectively in the region.
As per the latest reports, the UAE’s direct investment abroad increased by $18.9 billion in December 2020 compared with $21.2 billion the year before.
Hisham Al Gurg, CEO of the Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, said, “The UAE’s growing bilateral trade with other countries and investment in foreign shores are testimonies to companies in the region looking beyond their home markets to push the next phase of growth. We are pleased to partner with Stockal and hope this association will act as a catalyst for UAE firms to globalise their investments and financial assets.”
“Our extensive knowledge and expertise of the Middle East and North Africa business landscape and our commitment to advancing the interests of our partners will definitely help Stockal make its presence felt in the region,” added Mr. Al Gurg.
Founded in 2016 by Sitashwa Srivastava and Vinay Bharathwaj, Stockal has created a digital global investing platform that helps investors make forays into mature international markets, such as the US, for diversified returns. The investments are backed by big data-based automated research and analysis that helps investors make smarter decisions. Stockal processed about $600 million in transactions in the last 18 months from thousands of investors in India and Southeast Asia. M.I. Taher, ex-ICICI, HDFC and Reliance, joined Stockal last year as Head of MENA to establish and grow the business in the region for the company.
Sitashwa Srivastava, Co-CEO and Co-founder of Stockal, said, “There’s a huge potential for international investing among retail investors. We are committed to growing our presence in the UAE and the GCC region and have started making significant investments to that effect. We believe our partnership with the Seed Group will be instrumental in our endeavour to mobilise cross-border investments in the region. This will provide local investors with exposure to global markets in an efficient manner. The guidance and networking opportunities provided by the Seed Group will play a pivotal role in our success in the region.”
M.I Taher, Head MENA, Stockal, said, “The UAE and the wider MENA region will provide Stockal with a platform to empower the local and regional customers to invest internationally with more confidence and in a secure environment. We seek to make it possible for everyone to invest in bigger markets and reap benefits. We look forward to sharing our expertise in facilitating cross border investments with the customers in the region, under the able guidance of Seed Group.”
The Seed Group is a diversified company operating in industries, including technology, healthcare, tourism and hospitality, and real estate. Since its conceptualisation in 2000, the group has transformed into a frontrunner in multiple business sectors.
Stockal’s partnership with the Seed Group will give it access to one of the fastest-growing economies and further opportunities with prospective clients based out of the Middle East, Africa, and Asia regions.
Stockal is a global investing platform focused on investors who have, otherwise, limited opportunities of diversifying their investments and wealth internationally. Headquartered in New York, Stockal’s platform has been operating in India and other Asian countries for the last two years and has processed over $600 million worth of investing transactions. Having created an initial presence for itself, Stockal is now expanding into MENA, SE Asia and China. It works with some of the largest local brokerage, banking and wealth management firms to offer cross-border investment assets to their customer-base. Its investors comprise large financial institutions and family offices in the US, Singapore and India. For more information, visit www.stockal.com.
Over the past 16 years, Seed Group has formed strategic alliances with leading global companies representing diverse regions and industries. These companies have propelled their business interests and goals in the Middle East and North Africa region through the support and strong base of regional connections of the Seed Group. The Group’s goal is to create mutually beneficial partnerships with multinational organisations and to accelerate their sustainable market entry and presence within the MENA region. Seed Group has been a key point in the success of all its partners in the region, helping them reach their target customers and accelerate their businesses. The Private Office was established by Sheikh Saeed bin Ahmed Al Maktoum to directly invest in or assist potential business opportunities in the region, which meet The Private Office’s criteria. For more information, visit www.seedgroup.com.
Nomarie Jean Lacsamana
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