intelligent

The company , which has raised US $ 3.5m in its first funding round , will offer a suite of specialist services , including FX payments , treasury services and access to financing , acting as an enabler for midmarket enterprises to access previously denied services from the big banks .

Stanhope will offer key business-tobusiness payment services via the company ’ s FinTech platform targeting small and medium sized enterprises ( SME / MMEs ).

The company , which is registered in Dublin , Ireland , has more than 10 full time staff members , including entrepreneur Kevin von Neuschatz , the former managing director of Small World Financial Services , and Capital Markets specialist Khalid Talukder , previously of UBS , Citi and Deutsche .

Stanhope Financial ’ s successful first funding round will enable the company to launch on-the-ground specialist subsidiary companies in Dubai , serving the UAE , Asia and African markets with investment products and solutions as well as in Lithuania , serving European customers in global payments and FX . The company also has plans to apply for a licence to operate in the UK and other key markets in the coming months .

The company ’ s research has identified a clear market opportunity . Demand for access to short-term investment products and international payment rails ( SEPA / CHAPS / SWIFT and Fedwire ) and foreign currency to make local payments continues to outstrip current supply sources due to major global banks ’ current lack of appetite .

The company will focus on both treasury management solutions and international transactional banking , giving its clients access to global payments services , payment schemes such as SEPA and deliverable foreign exchange services and financing opportunities .

Stanhope ’ s key service offering will include dedicated local relationships in key markets , aggregation of payments and foreign exchange services as well as consultancy and e-banking industry expertise .

Khalid Talukder , Managing Director , Stanhope Financial Group , said : “ With SMEs and MMEs around the world crying out for high quality payments and treasury solutions as well as access to finance in tough times , Stanhope will bridge the gap , empowering companies to expand and grow despite disruption caused by the pandemic .

“ We plan to build a truly global company , with on-the-ground initial operations opening in Dubai and Lithuania , serving key regions with first class services .” �