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Finablr
IndustryFinancial Services
FoundedApril 2018
FounderDr. B.R.Shetty
HeadquartersAbu Dhabi
Area served
Worldwide
Key people
Dr. B.R. Shetty, Binay Shetty, Promoth Manghat
Number of employees
18000
Websitewww.finablr.com

Finablr is a global payments and foreign exchange company that deals in cross-border payments, consumer foreign exchange, B2B and payment solutions.[1] It was founded in 2018 by Dr. B. R. Shetty[2][3], who is also the Co-Chairman at Finablr. Promoth Manghat is the Executive Director and Group CEO at Finablr[4][5]  . The headquarters of Finablr are located in the United Arab Emirates.[6][7]. They are also setting up Innovation Hubs (i-hubs)[8] to identify disruptive trends in the industry and implement innovations. The company comprises over 18,000 employees[9][10] and handled more than 150 million customer transactions[9][10] in 2018.


Finablr is the parent company of UAE Exchange.[10] Remit2India is one of the financial services brands of Finablr.[11] The company's other brands include Travelex, Xpress Money, Unimoni, Ditto, and Swych.[1]

Key milestones

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Finablr acquired India's digital payments firm TimesofMoney from Network International to capitalise on the growth of e-commerce.[12]

In October 2018, Finablr brand, Travelex in partnership with Finablr’s portfolio company, Swych facilitated seamless cross-border shopping for WeChat Pay users[13].

Finablr is one of the first five corporate partners to join the Plug and Play ADGM Fintech Innovation Platform based in Abu Dhabi.[14]

In November 2018, Finablr became a majority shareholder of Swych, a digital gifting platform.[15][16]

In February 2019, Finablr announced collaboration with RippleNet for cross-border payments to process blockchain-powered cross-border transactions in Thailand.[17][18]

Finablr PLC got listed on the London Stock Exchange on May 15, 2019[19].

Board of Directors[1]

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BR Shetty (Founder and Co- Chairman)

Michael Tomalin (Co-Chairman and Independent Non-Executive Director)

Robert Douglas Dowie (Senior Independent Non-Executive Director)

HE Sheikha Lubna Khalid Al Qasimi (Independent Non-Executive Director)

Karim Aly Awad Saleh Salama (Independent Non-Executive Director)

Gavin Laws (Independent Non-Executive Director)

Julian Wynter (Independent Non-Executive Director)

Abdulrahman Basaddiq (Non-Executive Director)

Sudhir Kumar Yenmakaje Shetty (Non-Executive Director)

Promoth Manghat (Executive Director)

Binay Shetty (Executive Director)

References

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  1. ^ a b c https://www.finablr.com/
  2. ^ "Travelex owner Finablr prepares to float in London for more than £1bn". This is Money. 2018-04-23. Retrieved 2019-08-27.
  3. ^ Report, K. T. "Unimoni Asia Cup Trophy unveiled in Abu Dhabi". Khaleej Times. Retrieved 2019-08-27.
  4. ^ "Meet the CEO: Promoth Manghat, Executive Director of Finablr". Khaleej Times. Retrieved 2019-08-27.
  5. ^ "Dubai Cares' STEM programme gets Dh1m boost". gulfnews.com. Retrieved 2019-08-27.
  6. ^ "Owner of Travelex, UAE Exchange prepares for potential London IPO". Reuters. 2018-04-23. Retrieved 2019-08-27.
  7. ^ "UAE-based financial services conglomerate consolidates under new holding company". gulfnews.com. Retrieved 2019-08-27.
  8. ^ Bureau, Our. "Gulf businessman BR Shetty sets up holding company to consolidate financial portfolio". @businessline. Retrieved 2019-08-27. {{cite web}}: |last= has generic name (help)
  9. ^ a b "UAE business tycoon BR Shetty launches new holding company Finablr – GulfTomorrow". Retrieved 2019-08-27.
  10. ^ a b c Bloomberg. "Billionaire Shetty said to hire Evercore on Finablr IPO". ArabianBusiness.com. Retrieved 2019-08-27.
  11. ^ "Remit2India ropes in Virat Kohli as brand ambassador". The Economic Times. 2018-06-15. Retrieved 2019-08-27.
  12. ^ "Finablr acquires Indian digital payments firm to capitalise on e-commerce growth". The National. Retrieved 2019-08-27.
  13. ^ GmbH, finanzen net. "Leading Digital Gifting Platform Swych Partners with Leading Cross-Border Financial Services Firm Travelex to Introduce 'Travelex Pay', a WeChat Pay Powered Service | Markets Insider". markets.businessinsider.com. Retrieved 2019-08-27.
  14. ^ "Plug and Play Corporate Partners". None. Retrieved 2019-08-27.
  15. ^ November 2018, 13th. "Finablr takes majority stake in digital gifting firm Swych". FinTech Futures. Retrieved 2019-08-27.{{cite web}}: CS1 maint: numeric names: authors list (link)
  16. ^ "Finablr stake in digital gift card platform Swych has now increased". Cards International. Retrieved 2019-08-27.
  17. ^ "Finablr Foreign Exchange Firm Integrates RippleNet for Cross-Border Payments". https://btcmanager.com/. 2019-02-14. Retrieved 2019-08-27. {{cite web}}: External link in |website= (help)
  18. ^ "Finablr's Remittance Brands UAE Exchange, Unimoni Join RippleNet - Cryptovest". cryptovest.com. 2019-02-12. Retrieved 2019-08-27.
  19. ^ "London Stock Exchange today welcomes Finablr PLC". London Stock Exchange Group. Retrieved 2019-08-27.
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