HyperPay, the leading payment services provider in the Middle East and North Africa (MENA) region, has completed the acquisition of Saudi fintech start-up Sanad Cash. The financial details of the deal have not been disclosed.
Sanad Cash, established in 2021, offers a spend management platform designed to help corporates streamline and automate their expense management processes.
HyperPay, headquartered in Riyadh and established in 2010, provides a range of services including mobile payments, e-commerce solutions, and prepaid cards. The company, which launched in 2014, currently serves more than 5,000 merchants across seven countries, offering payment technologies to companies, governments, and SMEs.
By acquiring Sanad Cash, HyperPay aims to expand its product offerings and transform into an all-in-one digital platform. Over the next few months, the company plans to integrate Sanad Cash into its existing solutions and offer it as a white-label service to other fintech firms.
Muhannad Ebwini, the founder and CEO of HyperPay, stated that the acquisition aligns perfectly with the company’s strategic vision of providing a comprehensive range of digital payment solutions, covering both issuing and acquiring services. He further added that by leveraging Sanad Cash’s expertise in expense management, HyperPay can enhance its tools and services, simplifying financial operations for businesses of all sizes.
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