DWS Group, an asset manager majority owned by Deutsche Bank, has acquired a 15% stake in Neo Technologies, a Dubai-based digital investment platform. The value of the deal was not disclosed.
Neo operates a platform-as-a-service model, allowing financial institutions to rapidly introduce digital asset management services to their end clients. As a white-label solution, the startup provides an integrated front, middle and back office that is built specifically for the Mena region, adapting to local languages and regulatory requirements. Under the transaction, slated to close by the end of the year, DWS and Neo will form a strategic partnership to develop and expand digital asset management services in the region. Thorsten Michalik, co-head, global coverage group, DWS, says: "Neo Technologies enables DWS to obtain further presence in a region with high growth rates in asset management."
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