Nexxo Ventures has successfully closed the sale of a 100% stake in their subsidiary QPAY (the “Company”), the largest FinTech network for SMEs in Qatar, providing e-commerce payment gateway and payroll solutions. The sale will enable Nexxo’s shareholder to continue focussing on high-growth fintech opportunities in other emerging economies.
The Company was exclusively advised by CIGP’s Investment Banking Division. In its capacity as financial advisor, CIGP managed the sales process, prepared related documentation and analyses, guided the seller through the diligence workstream, conducted and assisted in contract negotiations and successfully accompanied the Company on concluding the transaction.
"We are very proud to see QPAY grow from a small start-up to a leading Fintech in Qatar, and we are delighted to complete this transaction with Qatar Islamic Bank one of the most innovative banks in the region."
Shared by Mr Gunnar Skoog, COO, Nexxo Ventures
"We see tremendous growth opportunities in financial services in emerging markets, and we shall continue our commitment to investing and accelerating Digital Banks and Fintechs in high-growth markets such as the Middle East, Africa and Asia."
Shared by Mr. Nebil Ben Aissa, CEO and Founder, Nexxo Ventures
"CIGP is very pleased to have advised on this transaction which further demonstrates our commitment to both the Middle East as well as the Fintech space."
Shared by Mr. Pierre Abou-Sakr, Managing Director, CIGP
About QPAY (https://www.qpay.com.qa)
Qpay is a Qatari fintech company that provides electronic payment solutions, mobile wallet services, and digital banking solutions to small and medium enterprises in Qatar. Its services include e-commerce payment gateways and payroll management, through the issuance of personalized salary cards usable in stores, ATMs and online. The company’s objective is simplifying financial transactions and improving access to efficient financial services to SMEs in Qatar.
About CIGP (http://www.cigp.com)
CIGP is an independent financial advisory group, rooted in Geneva for more than 50 years, providing investment banking services and wealth & asset management to its Clientele. CIGP Group focuses on advising entrepreneurs and their families on strategic matters and offering a comprehensive as well as bespoke range of financial services to private, entrepreneurial and institutional clientele, thanks to a fully integrated financial platform. Over the past decade, CIGP has expanded internationally to Milan, Dubai, Hong Kong and London.
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