Stanhope Financial, provider of a treasury management and investment platform for SMEs, has raised $3.5 million in its first funding round.
The startup offers a suite of specialist services, including FX payments, treasury services and access to financing for mid-market enterprises previously denied services from the big banks
The company, which is registered in Dublin, Ireland, opens its doors with over 10 full time staff, including entrepreneur Kevin von Neuschatz, the former managing director of Small World Financial Services, and capital markets specialist Khalid Talukder, previously of UBS, Citi & Deutsche.
The firm says the funding will enable the company to launch on-the-ground specialist subsidiary companies in Dubai, serving the UAE, Asia, and African markets with investment products as well as in Lithuania, serving European customers in global payments and FX. The company also has plans to apply for a licence to operate in the UK and other key markets in the coming months.
Says Talukder: “With SMEs & MMEs around the world crying out for high quality payments and treasury solutions as well as access to finance in tough times, Stanhope will bridge the gap, empowering companies to expand and grow despite disruption caused by the pandemic.
“We plan to build a truly global company, with on-the-ground initial operations opening in Dubai and Lithuania, serving key regions with first class services.”
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