Arcapita Group Holdings Limited, a leading global alternative investment firm based in Bahrain, alongside Dgpays, has acquired a majority stake in Neopay, a rapidly growing UAE-based payment solutions provider, from Mashreq Bank for $385 million. Neopay has solidified its presence in sectors such as retail, hospitality, government, and e-commerce, driven by the UAE’s robust GDP growth, young population, and initiatives promoting digital transformation. The acquisition aims to leverage Dgpays’ advanced financial technology to bolster Neopay’s position and expand its reach across the Middle East region. Key executives from Arcapita, Dgpays, and Mashreq have expressed confidence in the deal’s potential to drive further growth and innovation in the digital payments sector.
Digital Payments, Financial Services, Technology, Investment Management,United Arab Emirates, Middle East, Bahrain
https://www.zawya.com/en/wealth/alternative-investments/uae-arcapita-consortium-buys-key-stake-in-mashreq-unit-for-385mln-hr5rjw2s