The financial
technology company United Fintech Group Limited, has received strategic investments
from BNP Paribas and Citigroup. The company also engages in advanced
discussions with other strategic investors, indicating a widespread industry
movement toward cooperative fintech innovation.
The
investments mark the first time major banks have backed United Fintech. The
company said the deals represent a shift towards more collaboration between
financial institutions and financial technology providers.
BNP Paribas
and Citi will each gain a rotating seat on United Fintech’s board of directors
as part of the agreement. This will allow the banks to contribute to shaping
the platform’s strategic direction.
“More
than a significant milestone for United Fintech, the backing of Citi and BNP
Paribas is a testimony of forward-thinking leadership,” commented Christian
Frahm, the CEO of United Fintech. “As momentum builds, we project that
more financial institutions will soon follow.” In an interview with Finance Magnates back in November, Frahm hinted that his company is preparing for institutional collaborations. We are now seeing the effects of these forecasts.
Additionally,
United Fintech has pledged to host quarterly roundtable discussions between
major industry players to facilitate dialogue and cooperation on innovation.
In a
statement, BNP Paribas’ Junaid Baig said the bank aims to ensure financial
technology companies like United Fintech meet high standards, while Citi’s
Ayesa Latif emphasized the platform’s role in complementing existing bank
offerings.
Founded in
2020, United Fintech expects the investments to pave the way for further
backing. With the new funding, United Fintech will continue working towards creating
an open ecosystem that allows banks and fintechs to collaborate on digital
transformation.
United Fintech’s Strategic
Expansion through Acquisitions and Partnerships
Christian
Frahm, an industry veteran known for his previous success with CFH Group (now
Finalto), has ventured into a new project to revolutionize the financial
markets through digital transformation. This initiative is spearheaded by
United Fintech, a company he launched to serve as a global platform for the
digital age in finance.
Since its
inception, United Fintech has made significant strides, completing five
acquisitions within the retail and institutional tech sectors. These
acquisitions aim to empower small to mid-sized startups by providing them with
the resources and support needed to scale effectively.
In a recent
collaboration, United Fintech has partnered with Danske Bank, Denmark’s largest
lender, to enhance the chart functionalities of its District platform through
Netdania, a member of the United Fintech family.
Among its
strategic acquisitions, United Fintech began with the purchase of the
Scandinavian company Netdania in 2020 and recently expanded its portfolio with
Cobalt, a provider of data and risk services for digital assets and foreign
exchange markets. These moves underscore United Fintech’s commitment to
reshaping the financial landscape through digital innovation and strategic
growth.
The financial
technology company United Fintech Group Limited, has received strategic investments
from BNP Paribas and Citigroup. The company also engages in advanced
discussions with other strategic investors, indicating a widespread industry
movement toward cooperative fintech innovation.
The
investments mark the first time major banks have backed United Fintech. The
company said the deals represent a shift towards more collaboration between
financial institutions and financial technology providers.
BNP Paribas
and Citi will each gain a rotating seat on United Fintech’s board of directors
as part of the agreement. This will allow the banks to contribute to shaping
the platform’s strategic direction.
“More
than a significant milestone for United Fintech, the backing of Citi and BNP
Paribas is a testimony of forward-thinking leadership,” commented Christian
Frahm, the CEO of United Fintech. “As momentum builds, we project that
more financial institutions will soon follow.” In an interview with Finance Magnates back in November, Frahm hinted that his company is preparing for institutional collaborations. We are now seeing the effects of these forecasts.
Additionally,
United Fintech has pledged to host quarterly roundtable discussions between
major industry players to facilitate dialogue and cooperation on innovation.
In a
statement, BNP Paribas’ Junaid Baig said the bank aims to ensure financial
technology companies like United Fintech meet high standards, while Citi’s
Ayesa Latif emphasized the platform’s role in complementing existing bank
offerings.
Founded in
2020, United Fintech expects the investments to pave the way for further
backing. With the new funding, United Fintech will continue working towards creating
an open ecosystem that allows banks and fintechs to collaborate on digital
transformation.
United Fintech’s Strategic
Expansion through Acquisitions and Partnerships
Christian
Frahm, an industry veteran known for his previous success with CFH Group (now
Finalto), has ventured into a new project to revolutionize the financial
markets through digital transformation. This initiative is spearheaded by
United Fintech, a company he launched to serve as a global platform for the
digital age in finance.
Since its
inception, United Fintech has made significant strides, completing five
acquisitions within the retail and institutional tech sectors. These
acquisitions aim to empower small to mid-sized startups by providing them with
the resources and support needed to scale effectively.
In a recent
collaboration, United Fintech has partnered with Danske Bank, Denmark’s largest
lender, to enhance the chart functionalities of its District platform through
Netdania, a member of the United Fintech family.
Among its
strategic acquisitions, United Fintech began with the purchase of the
Scandinavian company Netdania in 2020 and recently expanded its portfolio with
Cobalt, a provider of data and risk services for digital assets and foreign
exchange markets. These moves underscore United Fintech’s commitment to
reshaping the financial landscape through digital innovation and strategic
growth.
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- Source: https://www.financemagnates.com//fintech/united-fintech-nets-key-investments-from-bnp-paribas-citigroup/
