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Our friends at Mashreq, along with Emirates NBD, have made a strategic investment in fintech — and owner of EMEA-focused loan syndication platform LoanBook — NewBridge Fintech, according to a press release. The size of the investment was not disclosed, but the funds will be used to grow the platform and increase access to market participants, the statement said.
Mashreq is making the investment through its fintech-focused venture studio, NeoVentures. The venture studio will invest in “disruptive fintechs, [incubate] new ventures, and [co-create] tailored digital and AI-driven solutions.” The investment in NewBridge will see Mashreq “co-create and commercialize solutions across the EMEA markets to bring modernization to the syndicated loans market,” Global Head of Investment Banking Chiradeep Deb said.
Meanwhile, Emirates NBD aims to capitalize on this transaction to “accelerate the loan syndication process” and drive “technological advancements that enhance both our operations and the global loan market,” Head of Strategy Neeraj Makin said. This transaction will be Emirates NBD’s first investment in a fintech based outside of the UAE.
What does NewBridge do? The startup, which aims to automate the loan syndication and private credit space, is based in the UK and Dubai, and offers a loan trading platform to find and identify loan prospects and execute the transaction. The platform was used “successfully” to execute a multi-bn primary syndication for a large GRE, the statement said.
