Financial services provider in the United Arab Emirates and the Middle East today announced the completion of its acquisition of FCA-regulated multi-asset financial brokerage House of Borse (HOB).
The acquisition is part of Noor Capital’s efforts to expand its presence, as well as its customer base in Europe and the UK. The company noted that the investment will also allow it to implement a growth plan over the coming months, with the launch of various investment products.
House of Borse, which serves institutional and retail traders, boosted its revenues by 71% in 2022. Muhammad Al-Fadil Al-Qahtani, founder of House of Borse and Chairman of its Board of Directors, noted that the firm has introduced US stock trading directly with the New York Stock Exchange and Nasdaq on MetaTrader 5, as well as cryptocurrencies, commodities, metals, and energy with one account. House of Borse has also developed internal technology like the CRM, customer area, agents and account managers.
Wahb Ahmed, partner and CEO of House of Borse, explained:
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 complete confidence in the contribution of House of Borse financial products to support the plans and directions of Noor Capital and its services.
