UAE 🇦🇪

NEOPAY’s Next Big Leap: How a $385 Million Deal Is Shaking Up Middle East Payments

Arageek Team
Arageek Team

2 min

Majority Stake Acquisition: Arcapita and Dgpays have jointly acquired most of NEOPAY’s shares, pushing the payment solutions provider’s valuation to around $385 million.

Mashreq Bank’s Ongoing Role: Mashreq Bank, which founded NEOPAY, keeps a notable minority stake, reinforcing its belief in NEOPAY’s growth potential.

Growth Through Expertise: Both Arcapita and Dgpays aim to combine their strengths to boost NEOPAY’s market visibility and deliver innovative payment products across the Middle East.

Surging UAE Market: Industry projections show the UAE’s card transaction value is set to grow at double-digit rates over the next five years, giving NEOPAY ample room to expand and diversify.

If you’ve ever paid for your shawarma in Dubai with just a quick tap of your card, you’ve witnessed the rapid evolution of digital payments in the UAE firsthand. It’s that very transformation that NEOPAY, a homegrown payment solutions provider, has been championing from day one. Now, NEOPAY stands on the brink of an even bigger breakthrough, thanks to a recent investment by global investment firm Arcapita and financial technology provider Dgpays.

According to an official statement by Arcapita, this deal—valuing NEOPAY at roughly $385 million—places the payment solutions firm in a prime position to capture a broader slice of the fast-growing Middle Eastern market. Mashreq Bank, which set up NEOPAY in the first place, isn’t bowing out; it keeps a substantial minority share, underscoring its unwavering commitment to the company’s trajectory.

For anyone keeping tabs on the UAE’s digital economy, it’s no secret that the region is racing toward a cashless future. In fact, forecasts from Arcapita suggest the UAE’s card transaction value could climb at a double-digit pace over the next five years. This surge in digital payments isn’t just hype; it reflects how consumers and businesses alike are ditching physical currency for fast, secure, and convenient payment methods.

Arcapita’s CEO, Atif A. Abdulmalik, noted that partnering with NEOPAY hits all the right marks for the firm’s strategy—backing market leaders poised for exponential growth. His perspective is that the UAE’s ongoing shift to digital payments, fueled by government-led tech initiatives and a youthful, tech-savvy population, will only accelerate. By tapping into these trends, NEOPAY can venture into fresh markets, introduce new value-added services, and ultimately shape the future of payments in the region.

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On the fintech front, Dgpays’ CEO, Serkan Omerbeyoglu, seems equally pumped. He applauds NEOPAY’s remarkable innovation within the UAE’s digital payments realm and sees a world of opportunity beyond the country’s borders. The plan is to combine Dgpays’ fintech prowess with NEOPAY’s platform to supercharge offerings for enterprises and SMEs, not just in the UAE but across the wider GCC.

Meanwhile, NEOPAY’s CEO, Vibhor Mundhada, is already charting the roadmap ahead. He stresses that with Arcapita’s and Dgpays’ backing—plus Mashreq Bank’s continued support—NEOPAY can keep evolving in step with the UAE’s dynamic financial landscape. The company aims to enhance its e-commerce services while expanding deeper into other Middle Eastern markets, always staying true to its vision of easing the shift toward digital transactions.

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