Moonfare expands into the Middle East

According to the fintech, it now manages two billion euros in customer assets and is looking to expand its business by expanding into the United Arab Emirates.

According to Handelsblatt, Moonfare, a financial company based in Berlin, is expanding into the Middle East. According to Moonfare, private investors from all seven United Arab Emirates (UAE) can now use the online platform to buy private shares. However, both the Abu Dhabi Global Market (ADGM) and the Dubai International Financial Center (DIFC) are excluded.

The move could serve as a model for other companies in light of the unrest in Ukraine and the geopolitical tensions between the West and China. The market potential in the region is considered to be very large.

The fintech works with off-market equity capital, which is commonly referred to as private equity. Private equity firms buy medium-sized companies and parts of groups, restructure them over a period of years and then either sell them for more money or float them on the stock market. The fintech is primarily aimed at wealthy customers who want to invest in private equity. In just under a year, Moonfare has doubled its assets under management to two billion euros. The fintech's management wants to make the private equity asset class more accessible online. According to the industry service finanz-szene.de, one of the 3,000 customers has investments worth an average of 667,000 euros.