DUBAI, UAE, October 13, 2016 /PRNewswire/ --
The Emirates Capital Limited, DIFC, Dubai ("Company" / "TECL" - http://www.emirates-capital.com) a boutique corporate finance firm with offices located in the DIFC, Dubai are pleased to announce that TECL has been retained, to assist with sourcing capital funding of US$21 Million plus, by a Norwegian based company ("Client").
The Client owns technology with potential to disrupt the monopolistic world of cross-border payments within the banking system such as SWIFT. The Client`s system is designed to save banks money but also allows banks to make instantaneous transfers with 100% accounting accuracy. At $20 per wire transaction bank costs for wire transfers are approximately US$260 million on a daily basis. The disruptive technology owned by the Client could save bank costs more than US$130 million a day. The Company is currently negotiating with three partner banks that have a combined presence in over 50 countries around the world and additional 5-7 banks may follow, bringing the represented presence up to 100+ countries. This Client system is fully licensed and believes it enjoys at least a two year advantage over any new competitor. The Client utilizes the latest in IT communication and IT security standards, and has built in new and advanced functionality to enhance the experience and options available to banks. The Company´s goal is to swiftly become the preferred solution for cross-border payments.
The Emirates Capital Limited will focus it`s fund raising activities on European institutional investors who have demonstrated know-how in the fintech industry.
Mr. Erik Essiger, Chairman and Chief Executive Officer of The Emirates Capital Limited said, "The Emirates Capital Limited have seen numerous start up companies in the payment systems space across the last two years. However, many of them were focusing on a B-to-C solutions providing just a different interface to the client with very little innovative solutions of payment processes. Additionally, a lot of them were, by and large, unregulated. The Client, on the other hand, has a completely developed and fully 5year- tested payment system in the cross boarder inter-bank payment arena and is negotiating with various partner banks that will give the Client global reach within a short period of time. The Client is regulated by the Norwegian Financial Services Authority. We have been impressed by their highly experienced and talented management team and we are delighted to have been retained to introduce this investment opportunity to qualified institutional investors. We are confident that we will succeed in bringing this round of investment to a successful conclusion in the near future. We look forward to working with the Client´s management team during this initial capital raise and also the possibility of assisting the Client with an IPO on a Public Stock Exchange at a later date."
Chairman of the Client said, "We are very satisfied with having entered into an agreement with The Emirates Capital Limited. More so, based on the overwhelming interest in our company, that TECL have received from their investor partners in Europe. It is important to note that our capital raising is more for strategic than for financial reasons. We look forward to a fruitful and successful business relationship with The Emirates Capital Limited."
About The Emirates Capital Limited.
The Emirates Capital Limited acts as M&A advisors, lead manager and arrangers with a focus on cross border transactions needs, structure and the development of a global presence. Headquartered in the Dubai International Financial Centre (DIFC) in Dubai it has developed significant relationships in the US, Europe, the Middle East and China to assist clients in commercializing their growth strategies by bringing them to external capital and resources. The Emirates Capital Limited is regulated by the Dubai Financial Services Authority.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The company assumes no duty to update its forward-looking statements.
Checkout The Emirates Capital Limited on http://www.emirates-capital.com
Mr. Erik Essiger
Chairman and CEO of The Emirates Capital Limited
Ms. Abeer Nazim
Analyst of The Emirates Capital Limited.
SOURCE The Emirates Capital Limited