Mashreq Completes $385 Million Deal To Sell Majority Stake In NEOPAY

Mashreq, a prominent financial institution within the MENA region, has successfully finalized the divestiture of a major share in NEOPAY, a rapidly expanding leader in digital payment solutions in the UAE.

This move comes after the initial announcement made on September 13, 2024, where it was revealed that DgPays, a key player in financial infrastructure technology in the EMEA region, along with Arcapita Group Holdings Limited, an international alternative investment firm, were set to acquire the majority stake.

By holding onto a considerable minority stake in NEOPAY, Mashreq demonstrates its ongoing dedication to the future development of the company. This collaborative effort marks a significant phase for NEOPAY, as it sets its sights on broadening its operational reach, venturing into new territories, and advancing its portfolio of innovative services throughout the Middle East.

The successful conclusion of this transaction reflects a mutual dedication among Mashreq, DgPays, and Arcapita towards nurturing innovation, promoting expansion, and redefining the landscape of digital payments across the region.

This strategic alliance aims not only to bolster NEOPAY's position in the market but also to contribute significantly to the evolution of the digital payments ecosystem in the broader Middle East.