The Abu Dhabi-owned City won an unprecedented fourth straight English top flight title with a 3-1 win over West Ham United
football7 hours ago
Nuwa Capital has invested in baraka, a Dubai-based fintech startup on a mission to educate, enable and empower retail investors in the Middle East. The $4 million seed round also includes Global Founders Capital, FJ Labs, Raptor Group, Tribe Capital, VentureSouq, and Class 5 Global. The company has officially launched its mobile investment app and has raised $5 million to date.
With a global and regional rise in appetite for investing, the company is targeting a large and underserved segment of investors in the GCC, where current offerings are mostly directed towards higher income segments and remain mostly traditional and rigid, while international platforms are either inaccessible or costly.
baraka has received regulatory authorisation from the Dubai Financial Services Authority (DFSA) in June 2021 and its commission-free investment app allows its users access to over 5,000 US-listed securities, including stocks, Exchange Traded Funds (ETFs) and fractional shares, with no minimum investment requirement among multiple other features.
“baraka is leading the charge in transforming the way in which investors access global capital markets and is at the center of our thinking of how technology can reinvent entire sectors. We’re also especially privileged to be joining Feras who is singularly suited to take on this massive opportunity,” said Khaled Talhouni, managing partner at Nuwa Capital.
The team has already successfully built a large community through its content hub and daily market newsletter, and boasts a waitlist of over 10,000 users from across the Middle East, a testament to the large, unmet demand in the market.
“We are incredibly proud to have Nuwa Capital on board as investors, especially given their deep understanding of Saudi Arabia, and to be part of their fast-growing portfolio. We’re really looking forward to the insights the Nuwa Capital team will be able to share as we continue to enhance our platform and scale across the region,” said Feras Jalbout, founder & CEO of baraka.
— sandhya@khaleejtimes.com
The Abu Dhabi-owned City won an unprecedented fourth straight English top flight title with a 3-1 win over West Ham United
football7 hours ago
Iranian rescue teams are scouring a fog-shrouded mountainside after an accident happened to the helicopter transporting Iranian president
mena7 hours ago
Chasing 215 for victory against Punjab, Hyderabad reached the target with five balls to spare at their home
cricket7 hours ago
The Copernicus Emergency Management Service provides mapping products based on satellite imagery
mena7 hours ago
City beat West Ham 3-1 to become the first team to win four straight Premier League titles
football8 hours ago
Dubai Crown Prince reviews strategic plans for the development and launch of satellites under the UAE Satellite Programme
space8 hours ago
Combs is the target of several civil lawsuits that characterise him as a violent sexual predator who used alcohol and drugs to subdue his victims
entertainment8 hours ago
The young pacer, who was hit by Rinku for five sixes in one over last year, held his nerve to defend 17 runs in the final over against Chennai on Sunday
cricket9 hours ago