Zicuro Technologies commences global expansion Eyes USD 5 mn revenue by 2025

• Signs MoU with Cosmos Group
• Zicuro to offer solutions developed in India to Capital Market Infrastructure in Kenya, Nicaragua, Tanzania, Algeria and other emerging economies
• Zicuro is eyeing a 10% market share of approx USD 5 mn by 2025.

MUMBAI, India, June 16, 2023 /PRNewswire/ -- Zicuro Technologies Pvt. Ltd., an emerging FinTech company providing back office software solutions for derivatives market participants, and Cosmos Group, a renowned turnkey project company, have entered into an MoU to facilitate the development and enhancement of capital market infrastructure in developing countries.

The partnership between Zicuro Technologies and Cosmos Group brings together their respective expertise and resources to offer comprehensive solutions tailored to the unique needs of developing countries and emerging economies. By combining Zicuro's deep financial markets understanding and expertise along with Cosmos Group's international project handling capabilities, the collaboration aims to streamline and modernize the capital market infrastructure, enabling deeper market participation to attract FPI's in the emerging economies.

The collaboration is focusing on countries such as Kenya, Nicaragua, Tanzania, Algeria. It is estimated that each of these economies may present a market potential of USD 50 million and Zicuro is eyeing a 10% market share of approx USD 5 mn by 2025.

Zicuro Technologies Pvt Ltd, has successfully commissioned Custodial Services solutions for one of India's largest Private Sector Banks in the Gift City. It is at an advanced stage of finalizing similar arrangements with other Private Sector Banks having presence in the Gift City.

Commenting on the partnership, Mr. Abhishek Bansal, promoter of Zicuro and also founder of Abans Holdings Ltd (NSE: AHL) said, "Expanding into the international market is a significant milestone for Zicuro Technologies. We are delighted to partner with Cosmos Group for our global expansion plans. Indian FinTech companies have emerged as drivers of the Indian Financial Markets and we are taking this expertise to the global stage. The economies in developing companies will be able to strengthen their capital market infrastructure, enabling them to attract investments, foster economic growth, and drive financial inclusion.

Zicuro Technologies, led by visionary entrepreneur Abhishek Bansal, has gained recognition for its secure and comprehensive systems catering to Custodians, brokers, trading desks, and banks. The advanced features offered by Zicuro's solution, ranging from trading and risk monitoring to regulatory reporting and compliance, provide market participants with a hassle-free experience in trade settlement across various asset classes.

Cosmos Group, an ISO 9001-2015 certified company, brings extensive experience in design, engineering, procurement, and commissioning of turnkey projects. With specialized divisions managed by dedicated professionals, Cosmos Group has excelled in various sectors, including healthcare, infrastructure development, agriculture, ports, renewable energy, and biofuels. Under the leadership of Mr. Anil K. Agarwal, a respected business veteran, Cosmos Group has a proven track record of integrating with global markets and adhering to international standards.

About Zicuro Technologies Private Limited (www.zicuro.com)

Zicuro Technologies Private Limited is the Fintech arm of Abans group which has business interests in Financial Services, Fintech, Bullion, Pharma, Real Estate, Commodities Trading, Asset Management and NBFC across India, UK, UAE and Mauritius. The term Zicuro is derived from the Latin word 'sicuro', which means 'secure'.  Zicuro aims to provide secure and reliable software solutions for the financial sector.