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Noor Capital fully acquires “House of Borse”, one of the leading multi-asset brokerage firms in the United Kingdom.
Dubai, March 22, 2023
Noor Capital, the leading investment company and provider of financial services in the United Arab Emirates and the Middle East, licensed and subjected to the regulation and supervision of the Securities and Commodities Authority in the United Arab Emirates, and whose board of directors is chaired by the Emirati businessman Abdul Jabbar Al-Sayegh, announced the completion of its acquisition of 100% of the shares of “House of Borse” HOB, a leading multi-asset financial brokerage in the United Kingdom regulated by the FCA. This initiative was launched by Noor Capital as part of its efforts to expand its presence in Europe and the United Kingdom. The acquisition will give Noor Capital the opportunity to expand its business to the United Kingdom, as well as the prestige of having an FCA-licensed brand associated with its name.
House of Borse was able, within a short period of time, to achieve a leap in terms of growth, expansion, and the launch of innovative financial products, after it achieved a growth in its revenues for the year 2022 of more than 71%. The company now enjoys a leading position in providing trading services in the financial markets on one multi-asset platform, to which it has attracted a large number of clients from the institutional sector and retail traders in order to become a leader in this field.
In this regard, Dr. Muhammad Al-Fadil Al-Qahtani, entrepreneur and founder of House of Borse and Chairman of its Board of Directors, said that the deal between Noor Capital and House of Borse is the largest acquisition in 2023 of a British company by an Emirati company in the financial brokerage market, and this deal represents the start of a new pattern as Gulf companies have become transcontinental and have global horizons whereas we used to see European and American companies acquiring Middle Eastern companies instead.
Al-Qahtani added: “We, at House of Borse, are proud of being the first to launch US stock trading directly with the New York Stock Exchange and Nasdaq on the MetaTrader 5 platform, along with other products such as cryptocurrencies, commodities, metals, and energy with one account. The company was also able to develop advanced technology used internally like the CRM, customer area, agents and account managers. In addition, the company offers Mastercard cards to all its customers”.
He stressed that this news is great for customers who supported the company and employees who worked hard to build the House of Borse since it was founded in 2015, and this acquisition means a significant continuation of its development and will help in creating advanced products that customers appreciate.
For his part, Mr. Mohamed Ghosheh, CEO of Noor Capital, founded in 2005, said, “This strategic investment to acquire the multi-asset House of Borse comes within the company’s plans to expand in the European market and the United Kingdom, which are considered among the most important markets, with the United Kingdom being the largest financial center in the world. The company’s presence in the UAE and its expansion into other markets provides it with a diversification factor that enhances its ability to grow and increase its services and customers worldwide.”
Ghosheh stressed that this acquisition comes in line with Noor Capital’s vision to achieve integration and enhance cooperation in its services and clients, adding that while Noor Capital is looking to transfer its expertise to the United Kingdom, Europe and the world, it also aspires to provide a diversified package of services and products in the markets in which it is present, in addition to contributing to raising the level of the integrated financial services sector in the region. Ghosheh considered that the acquisition of House of Borse is an added value to the group in itself. He also expressed his aspiration to provide integration between the company’s services in the capital markets sector and to secure a global gateway to the private trading platform in Noor Capital.
Noor Capital currently manages a large number of assets through a group of funds and investment tools, headquartered in Abu Dhabi, UAE. The company is expanding its multi-asset capital markets platform, with its expansion into the European Union as well as expanding its client offering and launching US equity trading services. The House of Borse was an ideal choice to enhance the activity of trading services and products at Noor Capital, especially when we look at the company’s wide regional presence and its diverse experiences.
Muhammad Ghosheh added: “We are pleased with this strategic acquisition of the British House of Borse, which has emerged as a leader in the financial brokerage sector and is one of the first platforms to provide trading on the New York and Nasdaq stock exchanges on the MetaTrader 5 platform and launched the Mastercard card for its customers. This investment would allow the company to increase its client base in Europe and the United Kingdom, which will allow implementing an ambitious growth plan over the coming months, while launching a diversified package of investment products.
Mr. Wahb Ahmed, partner and CEO of House of Borse, explained that “the regional presence and the diverse experiences of Noor Capital make it an important choice to enhance the activity of trading services and products at House of Borse, adding that integrations can be achieved between the two companies, by uniting efforts and business sectors in the UK and the Middle East. This deal comes as an important step to support the investment potential of the two companies and achieve their goals through access to a cross-continent and UK-targeting multi-asset platform in the financial services sector”, indicating his full confidence in the contribution of House of Borse financial products to support the plans and directions of Noor Capital and its services.
About Noor Capital:
Noor Capital is the most prominent investment and financial advisory firm in the Middle East. It is an integrated financial services company focused on meeting the needs of clients, serving from its headquarters in the United Arab Emirates its corporate and institutional clients as well as family businesses and high net worth individuals. Noor Capital specializes in banking and investment asset management, capital markets services, financial brokerage and credit financing.
About House of Borse:
House of Borse was founded by entrepreneurs Dr. Muhammad Al-Fadil and Mr. Wahb Ahmed. The company operates under the license of the Financial Conduct Authority (FCA), which is linked to the Bank of England, and serves its clients through a multi-investment platform with a variety of financial assets that allows clients to trade in all financial markets such as US stocks, currencies, commodities, metals, futures and CFDs in addition to cryptocurrencies. The company has also recently launched a service to grant its customers a Mastercard card to facilitate withdrawals, deposits and purchases from anywhere in the world.
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