Arcapita and DgPays Buy Majority Stake in NEOPAY

Arcapita Group Holdings Limited, a global alternative investment firm, and Turkiye-based DgPays, a leading financial technology infrastructure company in the EMEA region, have completed the acquisition of NEOPAY, the UAE’s fast-growing digital payments leader, from Mashreq.

The acquiring companies have announced the deal on 13 September 2024, Mashreq said in a regulatory filing with Dubai Financial Market (DFM) on Monday.

Mashreq retains a significant minority stake in NEOPAY, underscoring its commitment to supporting the company’s continued growth. This strategic partnership represents a milestone for NEOPAY as it aims to scale its operations, enter new markets, and enhance its innovative service offerings across the Middle East.

The completion of this transaction signifies a shared commitment between Mashreq, DgPays, and Arcapita to driving innovation, fostering growth, and shaping the future of digital payments across the region, Mashreq said.

Digital Payments Enabler

NEOPAY, the payments subsidiary of Mashreq, is the digital payments enabler of choice in the region. It provides market leading merchant acquiring services, payment processing solutions as well as a host of value added services like integrated wallets, SaaS based solutions, BNPL, data analytics etc. With a total annual processed payment volume of over $30 billion, NEOPAY has pioneered key innovations in the payments space in the region.

Mashreq is almost a half-century old, yet proudly thinks like a challenger, start-up, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region’s most prominent corporations and wealth accounts.

Arcapita Group Holdings Limited is a premier alternative asset manager with a total transaction value in excess of $30 billion. The firm’s principled approach provides a strong, ethical compass that fosters trust, excellence and partnership with stakeholders.

With over 25 years of management expertise, aligning Arcapita Group’s interests with that of its clients, and conducts business in a fair and transparent manner. Arcapita Group has offices in the US, UK, Saudi Arabia, Singapore and an affiliated office in Bahrain giving us a unique vantage point to understand tomorrow’s evolving investment landscape.

Dgpays, is working with fintechs, non-financial institutions, banks, mobile network operators, and government entities like transportation authorities. With an IT/R&D team of over 600, Dgpays offers a wide range of in-house developed financial technology solutions, including payments and processing services, core banking, cards, ATMs, POS, digital SME packages, and e-wallets through a customizable micro-services architecture.

As a strategic technology provider with over 50 enterprise clients, including major banks, telecom operators, and government authorities in Turkey and beyond, Dgpays is also a licensed payment, e-money, and consumer financing institution. In addition, Dgpays owns the one of the largest independent loyalty platforms in Turkey and it is backed by shareholders such as Mastercard, EBRD, Truffle Capital, İşbank, Dogus Group, and Endeavor Catalyst Fund.