Transworld Group invests in Dubai-based fintech group SAM Corporate

Dubai-based fintech group SAM Corporate has received strategic investment from the Transworld Group and marquee investor, Sanjay Teli.

With this, the objective is to create synergies for SAM Corporate to offer niche and complex fintech implementation services, and pave the way for the introduction of new fintech products and services to the market.

According to a press release, the investment will enable SAM Group to expand its presence in the Middle East and North Africa (MENA) market. It would also enable the company to further its global market presence.

Dr Sunil Kumar K, an IIT Bombay alumnus, has been running SAM Group since 2014, along with co-founder Marc Gillis.

Dr Sunil said, “The MENA region has been abuzz with high level of activities on FinTech domain, several government and private initiatives is leading to explosion of activities on FinTech, thus an investment at this juncture brings SAM Corporate enhanced capabilities to offer niche solutions and services in the area of FinTech.”

Marquee investor Sanjay Teli said: “I have been silently associated with the SAM Corporate team for over five years. I am now well-versed with the firm’s DNA, intellectual solutioning, and complex implementation trajectory. My purpose of associating with SAM formally was from both short-term and long-term growth perspectives and keenness on further growing geographically given the global network I have garnered and nurtured for almost three decades. I will persistently endeavor to bring seasoned professionals on board at SAM, and coach and mentor them to walk the success ladder”.

Through the investment, Teli also comes onboard as a Key Investor and Strategic Advisor, bringing in capital, geographical reach, and business know-how to expand the company’s portfolio of niche fintech products and services, added the release.

Ramesh S Ramakrishnan, Chairman, Transworld Group, said, “We are excited to partner with SAM Corporate in the next leg of the journey of domestic as well as international expansion. With the introduction of corporate tax in the UAE, organisations will require robust digital systems and processes for reporting and analysis across all industries. We believe SAM Corporate is well-placed to provide customised solutions from leading OEM software players globally. We look forward to working with Dr Sunil and the entire team at SAM Corporate going forward."

Transworld Group is a global shipping and logistics conglomerate, operating through a network of global offices spread across the Middle East, India and Indian subcontinent, the US, and far east.