Singaporean Robo Advisor StashAway Expands Its Footprint to the UAEby Fintechnews Middle East 16. November 2020
StashAway, a South East Asian digital wealth manager, has launched in the Dubai International Financial Center (DIFC), a financial hub for the Middle East, Africa and South Asia (MEASA) markets. The platform is available to local and international clients in the region.
Founded in 2016 in Singapore and with operations also in Malaysia and now the UAE, StashAway reportedly has users from more than 145 countries and of 174 nationalities.
The company is said to have seen its assets under management grow more than 4.3 times in the last 12 months, and plans to build on this momentum with continuous product development over the next few months and years.
Based on their own personal risk preferences, StashAway clients can select from a range of growth oriented, globally-diversified investment portfolios.
Ramzi Khleif, StashAway MENA General Manager says,
“Following the success of StashAway in South East Asia, it was a natural path to expand the firm into a thriving region such as MENA, using the UAE as the gateway to our services. The UAE has a large mass affluent segment that has had to rely on traditional investment products that are often expensive and generic.
We identified this gap in the market for sophisticated, accessible, global investment options and we are excited to launch our services here in UAE and the wider MENA region. The platform does not just offer investment solutions, but brings together a personalised wealth management offering, an extensive resource of educational videos and articles as well as human support available 7 days a week.”
Michele Ferrario, StashAway Co-founder and CEO, comments,
“When we realised that the gap in wealth management options also exists in MENA, it was an obvious decision to expand our services, starting with earning our license in the DIFC. The firm is now a team of more than 140 people across 5 countries working to bring the best experience to our clients. We look forward to helping them navigate the ups and down of the markets and to build their wealth over the long-term”
Featured Image: (From left) Nino Ulsamer, Co-Founder and CTO, Michele Ferrario, Co-founder and CEO as well as Freddy Lim, Co-founder and Chief Investment Officer