(BUSINESS WIRE) — Algbra, the UK FCA licensed fintech and global digital financial infrastructure company that offers its full-stack proprietary technology internationally as a Fintech as a Service (‘FaaS’) solution and operates an ESG-focused and Sharia-compliant B2C platform, has announced the appointment of Adam Sadiq onto its Board of Directors.
Adam, a financial entrepreneur and Co-Founder and CEO of New World Group (NWG) – a diversified investment company across financial services, technology, and asset management – was part of the founding team of Algbra in 2020 and led NWG’s investment into the company alongside British Business Investments, Saphira Group, Kasikornbank’s Beacon Venture Capital and others.
Using his deep knowledge and experience of founding new businesses with global footprints and institutional and sovereign investors – as well as currently serving on the boards of Luxury Promise and The Valesco Group – Adam will bring his vast expertise to the Algbra Board and Executive Committee to lead its international growth strategy, particularly across Southeast Asia and the Middle East. Algbra also benefits from Adam’s extensive background in financial services including Société Générale, Western Asset (now Franklin Templeton), State Street Global Advisors and BGC Partners.
Commenting on his appointment, NWG CEO Adam Sadiq said: “I’m excited to be joining Algbra’s Board at this exciting time in the company’s journey. The Algbra team, led by Zeiad, have done a phenomenal job to build and launch an exceptional platform in the UK and I look forward to working with them to achieve the next significant milestones for investment and growth internationally.”
Algbra CEO, Zeiad Idris, added: “Adam has been a core part of Algbra’s founding journey over the past three years, so as we now embark on our exciting international growth and expansion, I can’t think of a better time to formally welcome Adam to the Algbra Board. The company will benefit tremendously from Adam’s deep experience working with institutions and investors, particularly across our future target markets and jurisdictions”.
Algbra is a UK fintech that is fully authorised and regulated by the Financial Conduct Authority (FCA) with registration number 952360, the first and only Sharia compliant EMI to achieve this. Algbra is a certified B Corp and was awarded “Best ESG Initiative in Payments” at the 2023 industry leading Pay360 Awards. Algbra offers its full-stack proprietary technology internationally as a B2B Fintech as a Service (‘FaaS’) solution, helping financial institutions and corporates build digital propositions from scratch; the UK operation is a live example of their enabling technology.
About New World Group (“NWG”)
New World Group is a London headquartered investor-operator that builds diversified, industry-leading, and tech-enabled global businesses committed to delivering sustainable value creation and impact. NWG’s portfolio of companies spans luxury & consumer, financial technology & services, and alternative asset management. The Group is active in 25+ territories across developed and emerging economies where it maintains strong relationships with government, industry and capital allocators.