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Corporation
BUSINESS PRODUCTS & SERVICES | Consulting & Outsourcing / Accounting & Finance Services
uaeexchange.com

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Investments

3

Portfolio Exits

2

Partners & Customers

10

About UAE Exchange Centre

UAE Exchange was founded in 1980. The 35-year plus young financial institution has today, grown into one of the leading global remittances, Foreign Exchange and payment solutions brands in the world. Headquartered in Abu Dhabi, the brand has spread its footprint across 31 countries in 5 continents with close to 800 branches.

UAE Exchange Centre Headquarter Location

United Arab Emirates

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UAE Exchange Centre Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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UAE Exchange Centre Rank

Latest UAE Exchange Centre News

UAE Central Bank gives in principle approval for Wizz Financial to acquire UAE Exchange

Sep 23, 2021

September 23, 2021 The UAE Central Bank has approved in principle for fintech Wizz Financial to acquire 100 per cent of UAE Exchange Centre. This in-principle approval for change of control satisfies a main formality required for the completion of the transfer of the business of the Finablr Group pursuant to the sale and purchase agreement entered into by all parties in December 2020, a statement said. Once finalised, UAE Exchange will launch its branch network in the UAE. Wizz Financial was launched recently by Prism Group and its partner Royal Strategic Partners (RSP) which specialises in payment solutions. “We are delighted to receive in-principle approval from the Central Bank of the UAE, and we are very thankful for the confidence, support and commitment the Central Bank and senior leadership of the country have shown us,” said Wizz Financial co-founder and group chairman Amir Nagammy. “We help our customers flourish by making their financial transactions easier and faster, ensuring the smooth and timely movement of payments across the globe. The Central Bank of the UAE’s in-principle approval will enable Wizz Financial to position UAE Exchange at the forefront of fintech developments and cement the UAE’s reputation for innovation in this dynamic market sector, so essential to us all,” said Ebrahim E. Nonoo, Wizz Financial executive chairman of the Money Remittance & FX Division. “Our collaboration with Wizz Financial reinforces our commitment to offer our customers access to the most convenient, integrated financial solutions in the UAE. We are pleased to be part of the continuing UAE success story, creating innovative products and employment opportunities to serve the evolving economy,” said Royal Strategic Partners CEO Dr. Hamed Al Ali.

UAE Exchange Centre Investments

3 Investments

UAE Exchange Centre has made 3 investments. Their latest investment was in Souqalmal as part of their Series B on October 10, 2017.

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UAE Exchange Centre Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/3/2017

Series B

Souqalmal

$10M

Yes

6

9/13/2017

Series A

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$99M

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10

6/12/2017

Series A

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10

Date

10/3/2017

9/13/2017

6/12/2017

Round

Series B

Series A

Series A

Company

Souqalmal

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Amount

$10M

$99M

New?

Yes

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Co-Investors

Sources

6

10

10

UAE Exchange Centre Portfolio Exits

2 Portfolio Exits

UAE Exchange Centre has 2 portfolio exits. Their latest portfolio exit was Souqalmal on March 21, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/21/2022

Corporate Majority

3

11/12/2018

Corporate Majority

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10

Date

3/21/2022

11/12/2018

Exit

Corporate Majority

Corporate Majority

Companies

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Valuation

Acquirer

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Sources

3

10

UAE Exchange Centre Partners & Customers

10 Partners and customers

UAE Exchange Centre has 10 strategic partners and customers. UAE Exchange Centre recently partnered with Standard Chartered on July 7, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

7/15/2019

Partner

United Kingdom

Standard Chartered Bank partners with UAE Exchange for Cash Management Services.

The new partnership will enable the corporate clients of Standard Chartered to deposit cash in their bank accounts through UAE Exchange 's vast retail network of 150 + branches across all seven emirates in the UAE .

1

3/6/2018

Partner

United Arab Emirates

1

2/28/2018

Partner

United Arab Emirates

UAE Exchange partners with Kayan Labs for rise mobile application, the world’s first migrant wealth management platform

The partnership will enable both UAE Exchange and Kayan Labs to explore opportunities using rise mobile application for offering money transfer in a secured and convenient manner , thereby extending the Online Money Transfer capabilities of UAE Exchange especially to the blue-collared workers .

2

2/14/2018

Partner

United States

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10

2/8/2018

Partner

United States

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10

Date

7/15/2019

3/6/2018

2/28/2018

2/14/2018

2/8/2018

Type

Partner

Partner

Partner

Partner

Partner

Business Partner

Country

United Kingdom

United Arab Emirates

United Arab Emirates

United States

United States

News Snippet

Standard Chartered Bank partners with UAE Exchange for Cash Management Services.

The new partnership will enable the corporate clients of Standard Chartered to deposit cash in their bank accounts through UAE Exchange 's vast retail network of 150 + branches across all seven emirates in the UAE .

UAE Exchange partners with Kayan Labs for rise mobile application, the world’s first migrant wealth management platform

The partnership will enable both UAE Exchange and Kayan Labs to explore opportunities using rise mobile application for offering money transfer in a secured and convenient manner , thereby extending the Online Money Transfer capabilities of UAE Exchange especially to the blue-collared workers .

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Sources

1

1

2

10

10

UAE Exchange Centre Team

3 Team Members

UAE Exchange Centre has 3 team members, including current President, Sudhir Kumar Shetty.

Name

Work History

Title

Status

Sudhir Kumar Shetty

President

Current

Sarath Chandr Mutharaju

Chief Information Officer

Former

Greg Shuler

Chief People Officer

Former

Name

Sudhir Kumar Shetty

Sarath Chandr Mutharaju

Greg Shuler

Work History

Title

President

Chief Information Officer

Chief People Officer

Status

Current

Former

Former

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