United Arab Emirates-based Noor Capital, an investment firm and financial services provider, has announced its acquisition of 100% of House of Borse (HOB) shares, a multi-asset financial brokerage in the United Kingdom, overseen by the Financial Conduct Authority (FCA). This move comes as part of Noor Capital's strategy to expand its presence in Europe and the UK, increasing its customer base and implementing a growth plan that includes launching a variety of investment tools.

House of Borse Fully Acquired by Noor Capital

House of Borse has experienced rapid growth and expansion, launching new products and increasing its revenues by over 71% in 2022. The company has become a leader in providing financial market trading services on a single multi-asset platform, attracting clients from both institutional and retail sectors.

The news comes less than two weeks after Noor Capital revealed in its regulatory filing that it had acquired a 75 percent stake in House of Borse. An additional press note published on Monday shows that the Middle East-based financial services provider has made a 100% acquisition of the brokerage company, which has been providing services to professional clients continuously since 2016.

Dr Muhammad Al-Fadil Al-Qahtani, the entrepreneur who founded HOB and serves as its Chairman, expressed that this acquisition represents a new trend in which Gulf companies are pursuing global horizons, in contrast to the traditional pattern of European and American firms acquiring Middle Eastern companies.

"We, at House of Borse, are proud of being the first to launch US stock trading directly with the New York Stock Exchange and Nasdaq on the MetaTrader 5 platform, along with other products such as cryptocurrencies, commodities, metals, and energy with one account. The company also developed advanced internal technology like the CRM, customer area, agents and account managers. In addition, the company offers Mastercard cards to all its customers," Al-Qahtani added.

Wahb Ahmed, the CEO of House of Borse, highlighted the regional presence and diverse experiences of Noor Capital as crucial for enhancing trading services and products at HOB. The partnership will enable integration between the two companies, uniting their efforts across the UK and the Middle East.

"This deal comes as an important step to support the investment potential of the two companies and achieve their goals through access to a cross-continent and UK-targeting multi-asset platform in the financial services sector," Ahmed commented.

According to Mohamed Ghosheh, the CEO of Noor Capital, the acquisition of House of Borse aligns with the company's vision to expand in the European and UK markets, which are considered among the most important worldwide. Ghosheh believes the acquisition will add value to the group and provide an opportunity for integration between the companies' capital market services.

Noor Capital, headquartered in Abu Dhabi, manages numerous assets through funds and investment tools. The company plans to extend its multi-asset capital markets platform to the European Union, expand its client offerings, and launch US equity trading services. House of Borse's extensive regional presence and diverse experiences make it an optimal choice to enhance trading services and products for the company.

Top Executives from Noor Capital Join House of Borse Leadership Team

House of Borse's filings with UK Companies House which were seen by Finance Magnates revealed that Noor Capital's Mohammad Ghousheh and Muhammad Al Zou'bi have been appointed as Directors at the House of Borse.

A month earlier, S. Mohammed Jabri left the company to join TradeUltra, a forex and CFD broker regulated in Malaysia by the Labuan Financial Services Authority (LFSA), as its Chief Executive Officer. In Noor Capital, he was responsible for managing the sales team.

House of Borse has reported solid performance metrics of its business for the financial year 2022, ending on July 31. The firm's annual revenue experienced a 71% increase to £1.02 million, marking the second consecutive year of notable revenue growth.