Vault Wealth Launches Digital Private Wealth Platform in MENA
Vault Wealth, a digital private wealth platform focused on serving affluent individuals based in UAE, has officially launched to the public.
The announcement coincides with a new investment round led by Peak XV Partners, formerly Sequoia Capital India and Southeast Asia, with continued backing from Outliers VC.
Following the receipt of its license from the ADGM Financial Services Regulatory Authority in mid-2023, Vault has worked closely with a group of high-net-worth individuals (HNWIs) to refine its offering.
With this groundwork in place and product-market fit established, the platform is now opening up to a wider base of affluent investors, specifically those with more than US$100,000 in liquid assets.
According to the company, assets under management have grown by over 300% in the past year, with new clients typically tripling their deposits within 90 days of joining.
'Vault was built with a simple premise: that affluent investors in MENA deserve better, better access, better alignment, and better outcomes,'
said Bilal Abou-Diab, Co-Founder and CEO of Vault.
'Vault is what wealth management should look like today: digital-first, fiduciary by design, and built for how people live and invest now. With Peak XV Partners' support, we're entering a new phase of growth, delivering institutional-quality wealth management to a broader base of clients across the region.'
Vault aims to provide a full-service wealth management experience by combining advisory expertise with technology. Its clients include professionals and entrepreneurs from the UAE, the Gulf Cooperation Council, Europe, Asia, and North America.
Services include financial planning, goal-based portfolio management, and access to global markets via Interactive Brokers.
Clients can also explore private market investment opportunities, including private equity, venture capital, private credit, and real estate, through a single platform.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hi Dubai
28 minutes ago
- Hi Dubai
UAE and Serbia Activate Economic Partnership Agreement to Boost Trade and Investment
The Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and the Republic of Serbia has officially come into force, marking a key step in strengthening economic cooperation between the two nations. The agreement is designed to increase trade and investment flows, opening new opportunities across multiple sectors. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, highlighted the CEPA's potential, saying it 'creates new avenues for collaboration, investment, and trade that will benefit both our nations.' He emphasized that the pact will help generate jobs, reinforce supply chains, and foster a business-friendly environment. Bilateral non-oil trade between the UAE and Serbia reached about US$121.4 million in 2024—double the level seen in 2021. The agreement is expected to significantly increase this trade, contributing an estimated US$351 million to the UAE's GDP by 2031. This growth is supported by the elimination or reduction of customs duties on over 96% of tariff lines, enhancing market access. Serbia's strategic location and diverse economy position it as a vital gateway into Eastern Europe and the Balkans. The CEPA aims to deepen private sector collaboration and encourage investments in key areas such as renewable energy, agriculture, logistics, and technology. As Serbia's largest trading partner in the Gulf Cooperation Council region, the UAE accounted for 55% of Serbia's trade with the GCC in 2023. The CEPA will further strengthen this relationship through increased foreign direct investment in high-growth sectors. This agreement is the UAE's 10th CEPA to come into force, part of a broader strategy to grow non-oil trade to US$1.1 trillion and double the economy's size by 2031. News Source: Emirates News Agency
Fintech News ME
31 minutes ago
- Fintech News ME
Papara Founder Among 13 Detained in Turkish Fintech Crackdown
Turkish authorities have detained 13 individuals as part of an ongoing investigation into fintech company Papara, over allegations of money laundering, illegal betting activities, and the formation of a criminal organisation, Interior Minister Ali Yerlikaya announced on Tuesday (May 27) . According to Reuters, authorities suspect that Papara, an online platform providing money transfers, foreign exchange, and bill payment services to its 21 million users, was facilitating the transfer of illegal betting revenues by allowing users to open accounts for this purpose. State broadcaster TRT Haber reported that those detained include Papara's founder and chairman, Ahmet Faruk Karslı. In response to the investigation, the Savings Deposit Insurance Fund (TMSF) was appointed as trustee to oversee Papara by court order, following reports from the Central Bank of the Republic of Turkey, the Financial Crimes Investigation Board (MASAK), and other relevant bodies. The central bank, which regulates payment service providers, stated on Tuesday that temporary daily transaction limits would be imposed on the platform. 'In this process, which will be carried out in coordination with the relevant institutions, temporary daily limits will be applied to payment transactions at the institution,' the central bank noted. The central bank also sought to reassure users, emphasising that, 'within the scope of the law, the funds of payment service users in payment and electronic money institutions are secured in protection accounts at banks.' Yerlikaya added that the authorities have seized 10 companies, bank accounts, and the assets of the detained individuals. A financial crimes investigation revealed that over 26,000 accounts had been used for illegal online betting activities, with transactions amounting to 12.9 billion lira (approximately US$330 million). Papara, considered one of Turkey's leading fintech firms, has yet to issue a statement regarding the matter. Founded in 2015, the company received its electronic money institution license from Turkey's banking regulator, BDDK, in 2016. It expanded internationally in 2023 through the acquisitions of Pakistan-based SadaPay and Spain-based Rebellion Pay.
Fintech News ME
2 hours ago
- Fintech News ME
Stitch Raises $10M to Improve Financial Infrastructure in MENA
Stitch, a Saudi Arabia-based platform for launching and scaling financial products, has announced the close of a US$10 million seed funding round. The round was led by Arbor Ventures, COTU Ventures, Raed Ventures, and SVC, with participation from family offices and industry figures including Marqeta founder Jason Gardner and Abdulmalik AlSheikh, known for his role in establishing the mada and Sadad payment networks in Saudi Arabia. The funding will support Stitch's efforts to expand its team and enhance its technology platform, which aims to simplify the development and launch of financial services. Demand for integrated financial infrastructure is increasing across both the Middle East and global markets. The global banking and financial services industry is projected to grow from US$91.42 billion in 2024 to US$221.39 billion by 2033, at a compound annual growth rate of 10.3 percent. In Saudi Arabia, banking sector assets have reached US$1.12 trillion (SAR 4.22 trillion), while digital payments grew by 75 percent between 2019 and 2021. Point-of-sale transactions in the country totalled US$177.69 billion (SAR 667 billion) in the 2024 financial year. Despite this growth, many businesses in the region continue to face challenges in building financial products due to outdated systems and complex regulations. Stitch aims to address this with a unified, API-driven platform. Currently serving clients in Saudi Arabia and the UAE, the company has also expanded into East Africa, beginning with Kenya. Mohamed Oueida, Founder and Chief Executive Officer of Stitch, said: 'Businesses are forced to navigate outdated legacy systems and complex regulatory frameworks, making things slow, expensive, and mostly painful. It does not have to be this way. Stitch exists to change this. Institutions should be able to focus on what matters and have a platform that can mould around their creativity. We are generally looking to make this process a lot more enjoyable for our partners.' Stitch's platform enables clients to develop and launch financial services more efficiently, with the company claiming product deployment times can be reduced by up to 80 percent. Clients include Lulu Exchange, Alamoudi Exchange, Foodics, Dar Al Tamleek, Raya Financing, and Tanmeya Capital, all of whom are using the platform to offer customised financial solutions. Founded in 2022, Stitch has brought together talent from institutions such as FIS, Geidea, Rain Financial, NPCI India, and Al Rajhi Bank, with a focus on long-term innovation in banking and payments.
