Former Credit Suisse banker Daniel Sandmeier is wasting little time in expanding the fintech firm he joined as CEO. The Swiss company is pushing into the Middle East with an influential backer.
Swiss-based Instimatch Global is expanding to Qatar by partnering with a weighty domestic institution as well as local partners, the company said in an emailed statement on Wednesday. The local partner wasn't disclosed, though Instimatch said Sheikh Fahad Al-Thani – a member of the ruling al-Thani family of Qatar – is one of the local partners.
«The Middle East has been a focus of ours for some time, as a region where we see significant potential,» CEO Daniel Sandmeier said. Instimatch has already won Gulf Bank in Kuwait among initial clients.
Founded by Hugh Macmillen in 2017, the Zurich-based firm is looking to digitalize institutional money market transactions. It hired Sandmeier two years ago in a growth bid. The platform is currently home to 80 financial firms from 14 countries.
