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Danske Bank invests in United Fintech and joins board to digitally support its Forward ’28 strategy
COPENHAGEN, Denmark, May 7, 2024 /PRNewswire/ — Joining United Fintech’s circle of institutional investors, Danske Bank takes a seat at the board of a leading industry-neutral Digital Transformation Platform alongside BNP Paribas and Citi to support the bank’s Forward ’28 strategy from a digital frontier. A move signalling that shared collaboration is the way ahead for financial services as global banking enters a new era of collective innovation.
Danske Bank A/S has become the third institutional investor in United Fintech Group Limited securing the Nordic bank a rotating board seat in the rapidly growing industry-neutral Digital Transformation Platform:
“Danske Bank is very excited to join United Fintech and sees great opportunities as per both collaboration within the existing ecosystem of fintech companies, but also in being closer to the future fintech investment processes and decisions. The partnership allows Danske Bank to expand its exposure to innovative solutions, ultimately benefiting our customer value proposition,” says Claus Harder, Head of Transaction Banking & LC&I Business Development with Danske Bank.
Digitally supporting the strategy
The investment will enable swift access to exploration of cutting-edge fintechs through United Fintech’s platform. Building on collective efforts along +200 other financial institutions, this will also allow Danske Bank to benefit from new strategic partnerships and scalable ways of diversifying its digital ambitions – and thus support the bank’s Forward ’28 strategy across areas such as corporate banking, capital markets, wealth management and API integrations:
“With a company backbone highly aligned with our Forward ’28 strategy, United Fintech is an investment that provides a digital edge and competitive advantage to support our strategy in terms of both relevance and time-to-market when it comes to future solutions. Furthermore, the investment in United Fintech will generate possibilities to engage directly with fintechs that are subscale; to support their growth while simultaneously helping fuel our own digital transformation and growth strategy,” elaborates Claus Harder.
United Fintech: Broad industry shift underway
The announcement of Danske Bank’s investment comes just months after it was published on February 27 that BNP Paribas and Citi entered as institutional investors in United Fintech.
According to United Fintech’s founder and CEO, Danske Bank’s investment is not only a testimony to the Nordic bank’s commitment to shared collaboration on an industry-neutral platform, but the financial industry as a whole, as the Unithed Fintech confirms it is also in advanced talks with further strategic investors to join its transformative journey, signalling a broad industry shift towards collaborative fintech innovation as global banking enters a new era:
“We are delighted that Danske Bank has decided to invest and join United Fintech’s industry-neutral Digital Transformation Platform. Their innovative and forward-looking approach to digital transformation is a cornerstone in our mission to build a transformative platform. This commitment is instrumental in addressing the industry’s most pressing challenges through collaboration, rather than isolated efforts. By uniting the strengths of Danske Bank and our other banking partners, we are setting the stage for a new era in banking where we move beyond traditional silos to propel the industry into the digital age,” ends Christian Frahm, CEO and founder of United Fintech.
About Danske Bank • For more than 150 years, Danske Bank has helped enable growth and development in society. The bank has developed in tandem with the societies it exits in providing advisory services, expertise and financial solutions that have helped individuals, families, businesses, and organisations to realise their ambitions and potential. The bank helps customers in eight countries, has more than 200.000 small and medium-sized business customers and more than 35 percent of large corporates in the Nordics. With long-term sustainable development an ambition the bank will continue to work every day to be the best possible bank, for the benefit of customers, employees, shareholders and the societies it is part of.
About United Fintech • Founded in 2020, United Fintech is an industry-neutral Digital Transformation Platform where global financial institutions and cutting-edge technology providers come together to unleash their full potential and enable the future of finance. United Fintech remains on the frontier of innovation by acquiring engineering-led fintechs within Capital Markets, Wholesale Banking and Wealth Management under a central umbrella and in just four years, the company has acquired five fintechs and is on track to acquire many more. In 2024, United Fintech received investments from BNP Paribas and Citi.
Contact • For more information, please direct media enquiries to:
Ulrik Scheibye / [email protected] / +45 4514 1400
Nic. Rossen / [email protected] / +45 2072 9972
Download pictures of Claus Harder of Danske Bank and Christian Frahm of United Fintech here:
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View original content:https://www.prnewswire.co.uk/news-releases/danske-bank-invests-in-united-fintech-and-joins-board-to-digitally-support-its-forward-28-strategy-302137721.html
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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