Adeeb Ahamed and Ralph Santos after signing the partnership deal in Abu Dhabi.
Lulu Exchange Holdings, the leading financial services company, has announced that it will invest $3.5 million in tech startup Arkin Technologies Ltd.
Through the collaboration, Lulu Exchange Holdings plans to offer a holistic suite of financial products and services in their cloud-banking, constituting a digital revolution in the financial services space.
Lulu Exchange Holdings plans to take Arkin's expertise to offer everything from cloud banking, real-time remittances, bills payment and Prepaid MasterCard and Visa, tap payments, prepaid products, API banking and even chat applications to various markets in the region and worldwide. Arkin's platform is also armed with two-factor authentication and one of the highest encryptions in the world.
"We are excited to announce this partnership with Arkin Technologies LTD. We do not want to be seen as just investors putting in capital, but as partners with promising startups like Arkin sharing our expertise and leveraging on mutual strengths to offer customers simple and smart digital financial solutions," said Adeeb Ahamed, managing director, Lulu Exchange Holdings.
Arkin is helmed by Ralph Santos, CEO, who is one of the pioneers in the FinTech industry, having experience in the field before 'fintech' entered the corporate vernacular. Through his vast experience across multiple industries in key positions, Ralph has found groundbreaking and innovative startups that have successfully redefined the digital landscape and provided a platform for greater financial inclusion.
He created the highly successful VMoney digital platform, offering an extensive end-to-end financial solution for businesses and consumers offering integratable online payments and funds disbursements for online and retail merchants, government institutions, medical organisations, educational facilities, and business enterprises.
"This is an exciting collaboration for us, and we are proud to partner with Lulu Exchange Holdings. With its focus on investments offering mutual strategic value, wide reach and unique solutions, Lulu Exchange Holdings is the right match for Arkin and is a natural next step toward engaging and supporting the wider financial ecosystem," said Ralph Santos.