Equiti Group announced on Wednesday the acquisition of digital payment technology provider Cloud Invest.
Equiti Group CEO and Co-founder, Iskandar Najjar said that the latest decision to move in the digital payment and services space through the acquisition is part of the Group’s strategic expansion plans
Equiti Group CEO and Co-founder, Iskandar Najjar, said:
Iskandar Najjar
Synergies between both companies will allow for smooth integration into our Group.
Chief Managing Director of Equiti Group and Co-founder, Mohamed Alahmad, added:
This strategic acquisition marks a significant step towards expanding our capabilities in the digital payments sector.
Alahmad added that Cloud Invest’s experience of working with banks, financial institutions and partners such as Mastercard, Visa and Network International spanning more than 10 years will boost Equiti’s service offerings.
Chief Executive Officer of Cloud Invest, Otman Ayoujil, commented:
We are thrilled to join Equiti Group and look forward to jointly becoming a unicorn in the global fintech space.
Earlier in February, Equiti expanded its UAE operations with an Abu Dhabi office, and all the necessary approvals to operate in the capital of the UAE already in place.
