The inaugural AI-driven securitization platform, TeamSec, seeks to revolutionize the structured finance landscape by offering a securitization-as-a-service model.
DenizBank’s venture capital fund, Deniz Ventures, a part of the Emirates NBD Innovation Fund, and Qatar-based Rasmal Ventures have united their efforts to invest in TeamSec. The recent funding round, amounting to $7.6 million, is directed toward scaling operations, exploring new markets across the MENA region, diversifying product offerings, and enriching service capabilities. By digitizing the securitization process, TeamSec aims to foster a transparent financial ecosystem, utilizing AI and data analytics to deliver substantial benefits for both financial institutions and their investors.
Ahmed Al Qassim, who leads wholesale banking at Emirates NBD, notes the significant potential for securitization in the area. He states, “Our strategic investment in TeamSec, a fintech pioneer in Securitization-as-a-Service, highlights our dedication to nurturing this market and facilitating its expansion. As their first investor, we are committed to supporting the founder and their team during this crucial growth phase.”
Alexander Wiedmer, co-managing partner at Rasmal Ventures, expresses enthusiasm for TeamSec’s ambitious objective to transform the securitization sector across the Middle East and beyond. He remarks, “The company’s mission-driven approach and unwavering focus on execution align with our investment philosophy. By collaborating with partners like Deniz Ventures, we aim to propel fintech solutions that challenge conventional financial frameworks while enhancing the region’s financial ecosystem.”
Esad Erkam Köroğlu, founder and CEO of TeamSec, acknowledges the pivotal role this investment plays in realizing the company’s vision. He explains, “The backing we’ve received from both Emirates NBD and Rasmal Ventures not only affirms the trust these esteemed organizations have in our vision and technology, but also propels our mission to transform the securitization landscape. With this funding, we strive to assert ourselves as leaders in both the fintech and securitization domains, particularly within the MENA region, and aspire to become a global agent of change in this field.”