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Press Release

StashAway officially launches in the UAE

The award-winning digital wealth management firm now offers its services in the MENA region

SINGAPORE, Nov. 15, 2020 /PRNewswire/ — StashAway, Southeast Asia’s largest and fastest growing digital wealth manager that offers its services to both retail and professional clients has launched in the Dubai International Financial Centre (DIFC). This makes StashAway the first digital wealth manager to get an asset management license from the Dubai Financial Services Authority (DFSA) with retail endorsement. The platform is available to local and international clients in the region.

Founded in 2016 in Singapore and with operations also in Malaysia and now the UAE, StashAway has users from more than 145 countries and of 174 nationalities. An established player in the market, the company has seen its assets under management grow more than 4.3X in the last 12 months, and plans to build on this momentum with continuous product development over the next few months and years.

Based on their own personal risk preferences, StashAway clients can select from a range of growth-oriented, globally-diversified investment portfolios. Since StashAway launched in July 2017, all growth-oriented portfolios have outperformed their respective same-risk benchmarks with annualised USD returns* of 11.1% on the highest-risk portfolio and 4.3% for its lowest-risk portfolio. It also has a cash management product,  StashAway Simple, that has a projected rate of 1.2% in AED and USD on any amount of cash with no lock-up.

Ramzi Khleif, StashAway MENA General Manager says,  “Following the success of StashAway in Southeast Asia, it was a natural path to expand the firm into a thriving region such as MENA, using the UAE as the gateway to our services. The UAE has a large mass affluent segment that has had to rely on traditional investment products that are often expensive and generic. We identified this gap in the market for sophisticated, accessible, global investment options and we are excited to launch our services here in UAE and the wider MENA region. The platform does not just offer investment solutions, but brings together a personalised wealth management offering, an extensive resource of educational videos and articles as well as human support available 7 days a week.”

Michele Ferrario, StashAway Co-founder and CEO, comments, We launched StashAway in Singapore in 2017 to provide an effective platform for individuals to build their wealth, as we were personally frustrated with the lack of effective investment options offered by financial institutions. Our platform has quickly become the benchmark for the financial services industry in Southeast Asia not only because of our ability to deliver such strong returns, but also because we’re giving our clients the investment experience they need: one with ease of access, transparency, and unbiased education. When we realised that the gap in wealth management options also exists in MENA, it was an obvious decision to expand our services, starting with earning our license in the DIFC. The firm is now a team of more than 140 people across 5 countries working to bring the best experience to our clients. We look forward to helping them navigate the ups and down of the markets and to build their wealth over the long-term.”

StashAway’s technology delivers sophisticated investing via an easy-to-use platform, with incredibly low fees, no minimum balance and unlimited withdrawals. Its digital interface, on both desktop and mobile phones, makes investing personalised so that it reflects their clients’ investment goals. Clients are also recommended a portfolio that reflects their risk preferences, plus an investment plan that helps them achieve their goals.

*From launch in July 2017 to the End of June 2020, returns in USD and AED (due to the currency peg)

Notes to Editors

About StashAway

StashAway is a digital wealth management platform that offers investment and cash management portfolios for both retail and professional clients. Its technology delivers automated, personalised portfolio management for each client’s individual portfolios. It offers global growth-oriented investment portfolios targeting different levels of risk and StashAway Simple™, a straightforward cash management solution.

StashAway was founded in 2016 in Singapore, and operates in Singapore, Malaysia and the MENA region. StashAway has a Capital Market Services License for Retail Fund Management from the Monetary Authority of Singapore, a Capital Market Services License for Retail Fund Management from Securities Commission Malaysia, and is regulated by the DFSA to offer investment advisory and asset management services.

StashAway has raised $36.4 million USD in four funding rounds. The company’s financial backers include Eight Roads Ventures, the global investment firm backed by Fidelity and early investor in Alibaba and Square Peg, the largest venture capital fund in Australia. The company was awarded a Technology Pioneer by The World Economic Forum and a Top 10 LinkedIn Startup in 2020.

www.stashaway.ae


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