Arcapita Group Holdings, Dgpays, and Mashreq have jointly acquired a majority stake in Neopay, a leading UAE-based digital payment solutions provider. The transaction values Neopay at approximately $385 million.
The consortium’s investment in Neopay is driven by the UAE’s rapidly growing digital payments sector and Neopay’s strong market position. With the backing of Arcapita and Dgpays, Neopay aims to expand its services and accelerate its growth across the Middle East.
Serkan Omerbeyoglu, chief executive of Dgpays, said: “We are excited to support Neopay’s journey in partnership with Mashreq. Neopay has demonstrated exceptional growth and innovation, and we see tremendous potential in expanding this success across the broader Middle East region.”
Atif A Abdulmalik, chief executive of Arcapita, commented: “Neopay is fully aligned with Arcapita’s investment strategy which focuses on acquiring companies that are not only market leaders but also have strong growth potential driven by favorable macroeconomic trends.”
Ahmed Abdelaal, group chief executive of Mashreq, said: “This transaction is a key milestone in Neopay’s journey, allowing it to continue its strong growth trajectory as a regional leader in digital payments.”
Vibhor Mundhada, chief executive of Neopay, also said, “We are thrilled to embark on the next chapter of Neopay’s growth with the support of Arcapita and Dgpays. With the technological and financial backing of our new shareholders, alongside Mashreq’s continued support, we are well-positioned to accelerate our growth in the UAE and expand our footprint across the Middle East.”
The acquisition signifies a strategic alignment between Arcapita, Dgpays, and Mashreq, highlighting a shared commitment to driving innovation and growth in the digital payments industry throughout the Middle East.
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