Global alternative investment firm Arcapita and financial infrastructure technology provider Dgpays have acquired a majority stake in NEOPAY, a UAE-based financial institution, in a deal valued at $385 million, according to an announcement.
Mashreq Bank, NEOPAY’s founding entity, retains a substantial minority stake, signaling its continued confidence in the company’s growth potential.
The acquisition represents a significant milestone for NEOPAY, which was established as a division of Mashreq to support the UAE’s transition to a cashless economy.
The company offers seamless payment solutions for industries including retail, hospitality, government services, and e-commerce. NEOPAY has played a pivotal role in advancing digital payments and promoting financial innovation across the region.
With the transaction pending regulatory approval, NEOPAY is poised to capitalize on the combined expertise of its new investors.
The partnership is expected to enhance NEOPAY’s market reach, drive innovation, and deliver advanced payment solutions tailored to meet the evolving needs of enterprises and SMEs across the UAE and the broader Middle East.
Arcapita’s CEO Atif A. Abdulmalik described the acquisition as a strategic move aligned with the firm’s focus on investing in market leaders within high-growth sectors.
He highlighted the UAE’s digital payment transition, supported by a growing GDP, a tech-savvy population, and progressive government policies, as a promising backdrop for NEOPAY’s continued expansion.
Dgpays CEO Serkan Omerbeyoglu emphasized the company’s commitment to leveraging its technological expertise to accelerate NEOPAY’s growth. The collaboration aims to position NEOPAY as a leader in digital transformation across the financial services sector.
NEOPAY’s CEO Vibhor Mundhada expressed optimism about the partnership, citing the technological and financial support of Arcapita, Dgpays, and Mashreq as a foundation for the company’s next growth phase.
NEOPAY aims to expand its footprint in the Middle East, focusing on e-commerce innovation and digital payment adoption.
This acquisition underscores the increasing importance of digital transformation in the financial sector, further cementing the UAE’s role as a hub for financial technology.