Following its mission to build a global network, through which players can conduct money market transactions transparently and frictionlessly, Instimatch Global developed a cloud-based trading network based on the latest Distributed Ledger Technologies (DLT). The platform connects borrowers with lenders within the vast unsecured money markets by providing them with more efficient access, better pricing and the ability to diversify counterparty risk. Target clients include banks, corporations, pension funds, asset manager, family offices, insurance companies and municipalities.
Established in 2017, Instimatch is already gaining traction as the network multiplies. With 80 counterparties from 14 countries registered on the network, Instimatch saw a 50% increase in the number of registrants, compared to the first half of 2019. In the same year, the company recorded $195 billion in trade intents, a 44% growth increase. The startup enables clients to trade cash deposits in 21 currencies.
Instimatch sets foot in the Middle East
Building on its accelerated growth, Instimatch has joined the Qatar Financial Centre (QFC) platform, obtaining a licence which marks the beginning of its strategic expansion in the Middle East. Hassan Al-Lawati was appointed as Chief Relationship Officer to lead the expansion of the cash deposits network into the Middle East.
Qatar’s substantial financial environment, characterised by its favourable macroeconomic environment, excellent business infrastructure and access to a $2.1 trillion regional market, provides FinTech companies with a lucrative market to grow and expand their business in the region. Thanks to these benefits, Daniel Sandmeier, CEO of Instimatch sees Qatar as an ideal starting point for the company’s further growth into other areas of the Middle East and Africa.
“In our expansion internationally, we have found that treasurers want innovation and new ways to optimise money market operations. Here in the Gulf region, with highly developed money markets and pools of liquidity, we think sophisticated treasurers will be interested in the efficiencies and access we can provide. We look forward, with the help of our excellent partners here, to telling our story in the region,” said Sandmeier.
Henk J Hoogendoorn, Managing Director, Financial Sector, QFC Authority acknowledges that Instimatch is one of the finTech companies that are disrupting the financial sector, thanks to the startup’s efficient and cost-effective services. “The launch of this fintech disrupter in Qatar is a welcome addition to the 839 firms currently registered on the QFC platform,” he added.
“The QFC is working closely with government entities and global FinTech companies to advance Qatar’s national fintech agenda. The welcoming of Instimatch Global on the QFC platform is a result of these efforts, and we are confident that this leading Fintech platform will bring a significant contribution to the development of the country’s Fintech sector,” said Sadiq Hamour, Director of Financial Institutions, QFC.