Equiti Group acquires digital payment technology provider Cloud Invest
DUBAI, UAE, May 31, 2023 /PRNewswire/ -- Equiti Group has announced its acquisition of Cloud Invest, a digital payment technology provider.
Equiti Group CEO and Co-founder, Iskandar Najjar, said: "As part of Equiti's strategic expansion plans, we are excited to move into the digital payment and services space, allowing for operational efficiencies and new revenue segments. Synergies between both companies will allow for smooth integration into our Group."
Chief Managing Director of Equiti Group and Co-founder, Mohamed Alahmad, said: "This strategic acquisition marks a significant step towards expanding our capabilities in the digital payments sector.
"By leveraging Cloud Invest's experience of over 10 years working with banks, financial institutions and partners such as Mastercard, Visa and Network International, Equiti aims to enhance our service offerings alongside Cloud Invest's deep expertise in this sector."
Chief Executive Officer of Cloud Invest, Otman Ayoujil, said: "We are thrilled to join Equiti Group and look forward to jointly becoming a unicorn in the global fintech space."
The global digital payments market size was valued at USD 81.03 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 20.8% from 2023 to 2030, according to Grand View Research Global Digital Payment Market Size & Share Report, 2030 (grandviewresearch.com). Global digital payment transactions were valued at over USD 8 trillion in 2022.
About Equiti Group
Equiti Group provides trading technology and services on the world's leading trading platforms. The Group's global footprint includes local offices in Europe, the UK, the Middle East, Africa, and the Asia Pacific region.
Regulated entities within Equiti Group include Equiti Capital UK Ltd regulated by the UK's Financial Conduct Authority, Equiti Securities Currencies Brokers LLC regulated and licensed by the UAE's Securities and Commodities Authority, Equiti Group Limited Jordan, regulated and licensed by the Jordan Securities Commission, EGM Securities Ltd regulated and licensed by Kenya's Capital Markets Authority, Equiti Brokerage (Seychelles) Limited, regulated and licensed by the Seychelles Financial Services Authority, Equiti AM CJSC regulated and licensed by the Central Bank of Armenia and Equiti Global Markets regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC).
About Cloud Invest
Cloud Invest specializes in transaction management and digital payment solutions. The company offers a comprehensive range of products and services that empower banks, retailers, micro-finance, and other industries to enable seamless customer payment services. Cloud Invest understands the unique requirements of each sector and tailors offerings accordingly. The company's primary mission is to help institutions implement a digital payment experience that enhances convenience and security for their customers.
Cloud Invest provides state-of-the-art Omni-channel payment solutions that cover traditional electronic payment transactions and support new digital transactions. The company's robust solutions allow acceptors to efficiently process various payment methods, including cash, bank accounts, cards, d-cards, d-wallets and RFID tags. For account holders, Cloud Invest offers a variety of ways to engage in digital payment experiences. Cloud Invest ensures a seamless and secure payment process across multiple channels, whether through mobile devices, web platforms, self-service kiosks, point-of-sale (POS) systems, or ATMs.
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