Network and Magnati Merge to Become Largest Fintech Firm
Network International, a leading fintech company in the Middle East and Africa (MEA), and Magnati, a leading provider of payment solutions in the UAE, have announced that they have received key regulatory approvals to merge into a single entity, owned by a Brookfield-led consortium. The merger process is expected to be completed during the third quarter of this year.
The merged entity will serve over 250 financial institutions, 240,000 businesses and more than 20 million cardholders across more than 50 markets in MEA. With a comprehensive suite of offerings including digital payments, data and insights, small business lending, and advanced fraud and security solutions, the merged organisation is committed to enabling businesses.
It will continue to partner with governments to support the digitisation of economies and enable financial inclusion in the region. With a Total Payment Volume exceeding $400 billion, it will become the largest fintech company in the region.
With a focus on innovation, scale, and growth, the combined business is well-placed to capitalise on the fast-growing digital payments adoption by both consumers and merchants in the region, including mobile payments, e-commerce and cross border transactions.
It will offer an expanded portfolio of products and services, tailored to meet the needs of customers, from SMEs to large enterprises and government agencies. Both companies will also realise sizable efficiencies and synergies, while expanding their operational reach across the MEA region.
The merger comes at a time when the Middle East payments market is undergoing rapid transformation. The MEA payments industry is projected to grow at a compound annual growth rate (CAGR) of 16.2% from 2025 to 2030.
Pivotal Moment
Group CEO of Network International Murat Cagri Suzer said that the combination of Network International and Magnati marks a pivotal moment in shaping the future of fintech in Middle East and Africa.
“By combining our scale, talent, deep market expertise, and strong partnerships, we are creating the region’s largest and most capable fintech platform serving businesses, keeping payments at the core of our services. We are poised to unlock long-term growth with innovation and deliver even greater value to our customers, partners and shareholders,” Suzer added.
The integration of both businesses will take place in a phased manner, and they will continue to operate as two separate brands, namely Network International and Magnati, for the time being.
Network International’s purpose is to help businesses and economies grow by simplifying payments and commerce. The fintech firm operates in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. It has more than 2,500 employees based in its markets serving over 250 financial institutions and over 196,000 merchants.
Even Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing, and acquiring processing. Magnati provides government, merchant, and institutional clients with an intelligent payments’ platform, using next-generation technology to deliver improved experiences and increased efficiency.
Headquartered in Abu Dhabi, Magnati’s expertise and relationships provide a platform for the company to attract international partners while setting a new standard for innovation and delivery in the payments industry.
