Gulf businessman BR Shetty creates holding company to consolidate financial portfolio

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Renowned UAE-based Indian businessman and philanthropist BR Shetty has announced the creation of “Finablr”, a new holding company that will consolidate its global portfolio of financial services brands under one roof.

Incorporated in the UK, Finablr will provide strategic direction and oversight for the leading brands in their category across its network.

As a diverse network, Finablr will combine the cumulative industry expertise of its network brands, including UAE Exchange, Travelex and Xpress Money, to deliver innovative, technology-driven, market-leading experiences.

Finablr also seeks to foster financial empowerment and empowerment by accelerating customer-centric technological innovation through R&D efforts, industry ecosystem engagements, investments and potential acquisitions. As a platform of complementary capabilities, the Finablr network will facilitate seamless and connected experiences for individuals and businesses.

In its efforts to embrace new technologies that transform the way customers and businesses engage, Finablr is building innovation hubs (i-hubs) on its global network. The i-hubs will identify disruptive trends in the industry and implement innovations that will deliver enhanced business benefits to its network of brands. Through its investment arm, Finablr will seek to acquire capabilities that complement its portfolio through inorganic activities. The Finablr investment arm will continue inorganic activities on behalf of its network brands, including strategic investments and acquisition plans ($ 250-300 million) announced by UAE Exchange.

Finablr also announced its intention to rename UAE Exchange’s non-UAE operations to Unimoni. Short for “Universal Money,” Unimoni will offer a wide range of financial services and build on the brand value and heritage of UAE Exchange, according to a press release.


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