Zicuro Technologies commences global expansion; eyes $5 million revenue by 2025

Zicuro Technologies Pvt. Ltd., a FinTech company providing back office software solutions for derivatives market participants, and Cosmos Group, a turnkey project company, have entered into an MoU to facilitate the development and enhancement of capital market infrastructure in developing countries.

The partnership between Zicuro Technologies and Cosmos Group brings together their respective expertise and resources to offer comprehensive solutions tailored to the unique needs of developing countries and emerging economies. By combining Zicuro's deep financial markets understanding and expertise along with Cosmos Group's international project handling capabilities, the collaboration aims to streamline and modernize the capital market infrastructure, enabling deeper market participation to attract FPI's in the emerging economies.

The collaboration is focusing on countries such as Kenya, Nicaragua, Tanzania, Algeria. It is estimated that each of these economies may present a market potential of USD 50 million and Zicuro is eyeing a 10 per cent market share of approx $5 mn by 2025.

Zicuro Technologies Pvt Ltd, has successfully commissioned Custodial Services solutions for one of India's largest Private Sector Banks in the Gift City. It is at an advanced stage of finalizing similar arrangements with other Private Sector Banks having presence in the Gift City.

Commenting on the partnership, Mr. Abhishek Bansal, promoter of Zicuro and also founder of Abans Holdings Ltd (NSE: AHL) said, "Expanding into the international market is a significant milestone for Zicuro Technologies. We are delighted to partner with Cosmos Group for our global expansion plans. Indian FinTech companies have emerged as drivers of the Indian Financial Markets and we are taking this expertise to the global stage. The economies in developing companies will be able to strengthen their capital market infrastructure, enabling them to attract investments, foster economic growth, and drive financial inclusion.

Zicuro Technologies, led by vAbhishek Bansal, has gained recognition for its secure and comprehensive systems catering to Custodians, brokers, trading desks, and banks. The features offered by Zicuro's solution, ranging from trading and risk monitoring to regulatory reporting and compliance, provide market participants with a hassle-free experience in trade settlement across various asset classes.