Premium Investment Company Waha Capital joins Channel VAS stakeholders
Channel VAS is further solidifying its strategic plans for growth and expansion, as it was recently announced that premium global investment company Waha Capital, based in Abu Dhabi, UAE, has chosen to join in as a stakeholder of Channel VAS in order to invest and diversify its principal investment portfolio. Channel VAS was chosen for this investment as it spearheads the data analytics and fintech revolution, providing Waha Capital with the excellent opportunity to tap into a rapidly expanding business area with great potential. At the same time, this investment will also promote the expansion of rapidly growing Channel VAS' footprint globally.
"It is a great pleasure to welcome Waha Capital, a premium investment company, among our stakeholders. This strategic investment creates a win-win situation, as both parties are leaders in their respective fields." stated Bassim Haidar, founder and CEO of Channel VAS. "This partnership will further cement Channel VAS' leading position in the FinTech front and will support us in providing even more innovative services and financial solutions to hundreds of million people all over the world, most of which are without easy reach of traditional financial services."
“Through this acquisition, we are enhancing our portfolio by tapping into a high-potential industry and an innovative company backed by a best-in-class management team that already has an impressive track record, and is implementing a solid strategy for expansion.” said Salem Al Noaimi, CEO and Managing Director of Waha Capital.
Waha Capital has acquired a minority stake in Channel VAS for approximately $55 million USD, adding this to the 5 billion AED worth of assets that is currently managed by its Principal Investments division.
Channel VAS currently operates in over 25 countries, most of them emerging, while its services adress more than 500 million people. This investment will be utilized to strengthen Channel VAS’ roadmap implementation for geographical expansion as well as enriching its portfolio of provided products and services in areas it already operates in. “We are looking to bank the unbanked. We know there are two and half billion adults that do not have access to banks today in emerging markets, and our mission is to get those to tap into the financial system,” said Bassim Haidar regarding the company’s future plans.
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