The new digital treasury and payment services provider SH Financial Group has appointed seasoned industry expert Mohit Davar as Executive Chairman.
Mr Davar is a payments expert and has worked in the industry in senior positions for over 25 years and joins the team to further accelerate SH Financial’s global expansion.
Over the past 10 years, Davar has nurtured and grown a variety of ambitious fintech companies. He is currently the President & CEO of T&J Capital Group, Chairman of the International Association of Money Transfer Networks, Co-Founder and Director of New Street Technologies Pvt Ltd, and Co-Founder of contactless dining app, QwikDine.
Prior to that he has held various senior positions including CEO of MoneyGram International, Travelex Money Transfer and Coinstar Money Transfer.
SH Financial Group launched in November last year with $3.5m funding, and is the holding company for SH Capital, based in Dubai, and SH Payments, based in Lithuania.
The former recently received its Category 3A Dubai International Financial Centre license, and the latter secured its Electronic Money Institution license in December 2020. Both operations are designed to provide access to world class global asset investment products, asset management services, FX hedging solutions and investment products to small and medium sized enterprises.
Mohit Davar, Executive Chairman for SH Financial Group, said: “SH Financial has a clear vision to reconnect ambitious businesses with tier one banking services and I’m excited to be joining such a talented team with such a clear and effective market proposition.
“For far too long, fast-growing innovative companies have struggled to get access to efficient payment options, services, and capital that they need to reach the next level. SH Financial is set to play a critical role in fuelling the post-Covid economic recovery, empowering expansion, and growth through a single fintech platform.
Davar added, “The company already has well-established operations in both the Middle East and Europe, serving as a one-stop-shop for the banking needs of SMEs and fintechs around the world.”
Kevin von Neuschatz, Group CEO, SH Financial Group said, “Mohit is the perfect addition to the senior team, bringing decades of experience, insights and energy as we take our business forward. He knows the industry inside out, having built and grown many fintechs from scratch as well as offering deep expertise in cryptocurrency and other digital payments services.
“These are exciting times for SH Financial Group and we are excited to welcome Mohit aboard as we enter the next phase in our growth cycle,” concluded von Neuschatz.