UnaFinancial, beforehand Robocash Group, is aiming to lift $15m (£12.4m) in capital to launch an app within the United Arab Emirates (UAE) subsequent 12 months.
The digital finance app would be the fintech’s first product within the Center East. The service will look to deal with prospects’ spending, investing and borrowing wants. UnaFinancial’s chief govt Natalia Ishchenko expects the app to have greater than $100m in income by 2028.
UnaFinancial, which has been growing fintech companies in Asia-Pacific and Europe since 2015 has supplied preliminary funding for the brand new app and is now trying to increase funds to cowl IT growth and advertising bills. Earlier this month, the group introduced a partnership with wealthtech supplier Velexa for the launch of the funding app.
The group stated additionally it is open to expertise and enterprise partnerships.
Learn extra: Robocash Group rebrands as UnaFinancial
The app will provide an internet funding platform, giving entry to a number of asset courses equivalent to equities, foreign exchange, commodities and derivatives. In the long run the plan can also be to roll out a digital pockets and credit score merchandise.
“A variety of companies, sturdy technological base and the long-term experience of our group in fintech, IT, banking and funding provides us a aggressive edge and confidence within the success of the longer term product,” Ishchenko stated.
“We count on the app to realize over 1 million prospects and greater than $100m in income by 2028. We imagine that collaboration with regional buyers and market consultants will assist us make a beneficial contribution to the native fintech business.”
Viktor Kasianov, chief govt of the mission, added: “We perceive the UAE’s wealthy panorama and various monetary wants, being a melting pot of various cultures and nationalities. As such, our platform is not going to solely leverage synthetic intelligence to assist prospects make sensible and knowledgeable selections, but in addition present in-app monetary schooling to empower buyers of various funding experience.
“Likewise, our app will provide aim setting and progress-tracking options to permit customers to observe their investments’ efficiency and visualize their monetary journey.”
UnaFinancial owns the European peer-to-peer lending platform Robo.money, which has confirmed that it’s going to not be altering its branding regardless of its mum or dad firm’s rebrand. The group posted a income of $139.1m in 2022 and a web revenue of $13.1m.