Muhammad AsimFounder at Marq Millions
Muhammad Asim, Asim to his friends, is one of the most dynamic and enthusiastic young entrepreneurs in UK FinTech. He is also a CEO, a thought-leader, and a keynote speaker.
At just 30-years-old, he is the CEO and Founder of Marq Millions, a FinTech organisation that has attracted global unicorn investment. Marq Millions’ core product is Arro Money. Arro provides quick sign-up payment accounts to communities excluded from everyday UK high street banking services. These communities include people that have only recently moved to the UK, people with poor credit histories, and people without a consistent UK address history.
Asim conceived the idea for Arro in 2013, aged just 24. He had moved to the UK from Pakistan and, despite being granted an Entrepreneur Visa by the UK government and possessing access to funds, the UK high street banks refused to let him open a current account with them due to him not having a UK address history. It was a chicken and egg situation because he was also being told by British landlords that he could not transfer them a deposit from a non-UK bank account. This experience inspired Asim to create accessible accounts for people that cannot access basic financial services.
Within two and a half years, Asim (at 26) had marshalled the founders of Marq Millions, built relationships with the likes of Barclays, Visa, and Mastercard, and been granted an eMoney license by the FCA (Financial Conduct Agency). The Arro product was launched in Jan 2018 and, 18 months on, more than 40,000 customers were taking advantage of Arro’s services. In April 2019, Marq Millions were named FinTech Company of the Year at the Prolific North Tech Awards.
Prior to founding Marq Millions, Asim led one of Pakistan’s biggest money transfer businesses AA Exchange to huge growth and founded numerous business startups, including; ABA Innovations in Pakistan and MMG General Trading in UAE. As a result of his early business successes and partnerships with the likes of Western Union and Moneygram, he was invited by the Prime Minister of Pakistan to contribute to the country’s National Action Plan to counter terrorism.