Business

Algbra, the UK FCA licensed fintech and global digital financial infrastructure company providing a Fintech as a Service ('FaaS') solution and operating an ESG-focused and Sharia-compliant B2C platform, has announced the addition of Adam Sadiq to its Board of Directors.

Adam Sadiq, 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 Algbra's founding team in 2020. He led NWG's investment into Algbra alongside British Business Investments, Saphira Group, Kasikornbank's Beacon Venture Capital, and others.

Leveraging his extensive experience in founding businesses with global footprints and working with institutional and sovereign investors, Adam will contribute his expertise to the Algbra Board and Executive Committee. His focus will be on leading the company's international growth strategy, particularly across Southeast Asia and the Middle East. Adam, who currently serves on the boards of Luxury Promise and The Valesco Group, brings a wealth of knowledge from his background in financial services with companies like Société Générale, Western Asset (now Franklin Templeton), State Street Global Advisors, and BGC Partners.

Commenting on his appointment, NWG CEO Adam Sadiq stated, "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."

About Algbra:

Algbra is a UK fintech fully authorized 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 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.

About New World Group ("NWG"):

New World Group is a London headquartered investor-operator building 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.

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