ARIE FINANCE Granted FCA Small Payment Institution Licence
- 26.01.2022 02:30 pm
ARIE Finance (licenced as ARIE Capital Payment Solutions, and part of the ARIE Capital Group) is pleased to announce that it has been granted authorisation to operate as a Small Payment Institution by the Financial Conduct Authority in the UK. ARIE Finance is the world’s first digital financial services platform designed exclusively for complex mid-market corporates.
The UK authorisation is a major regulatory milestone for the ARIE Capital Group, after having successfully received an Investment Banking licence in Mauritius in 2017, and a Private Fund Management Licence in China in 2021. Further licences and authorisations will be pursued throughout 2022 as ARIE Finance continues its growth and expansion.
Commenting on the FCA approval, Simon Tobelem, ARIE Finance CEO, said:
“We are delighted to have reached this very significant milestone, following a comprehensive approval process. Regulatory scrutiny of new market entrants has understandably increased substantially in recent times, so to be granted this licence demonstrates that ARIE Finance’s regulatory and operational infrastructure, as well as our value proposition, has complied with the highest standards demanded by the FCA.”
ARIE made a number of key strategic hires in 2021 as it grew its corporate clientele, strengthened its channel partners network and continued to build the partner ecosystems on ARIE’s digital finance marketplace. David Grunwald, formerly of Farfetch and Google Ventures, joined to oversee strategic direction for ARIE’s next-generation business banking proposition, while Douglas Krikler, formerly of Investec, joined as Business Development Director to oversee global growth across the group.