Equiti Group acquires Cloud Invest to enter digital payments and services space
“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 for the Equiti Group. Synergies between both companies will allow for smooth integration into our Group.”
Equiti Group has moved into the digital payments and services space by acquiring digital payment technology provider Cloud Invest, the renowned financial brokerage group announced.
Cloud Invest specializes in transaction management and digital payment solutions for banks, retailers, micro-finance, and other industries to enable seamless customer payment services.
Cloud Invest covers cash, bank accounts, cards, d-cards, d-wallets, and RFID tags
The firm provides Omni-channel payment solutions that cover traditional electronic payment transactions and support new digital transactions, including various payment methods, including cash, bank accounts, cards, d-cards, d-wallets, and RFID tags.
For accountholders, Cloud Invest offers digital payment experiences across multiple channels, whether through mobile devices, web platforms, self-service kiosks, point-of-sale (POS) systems, or ATMs.
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. Global digital payment transactions were valued at over USD 8 trillion in 2022.
Operational efficiencies and new revenue segments for the Equiti Group
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 for the Equiti Group. Synergies between both companies will allow for smooth integration into our Group.”
Mohamed Alahmad, Chief Managing Director and Co-founder at Equiti Group, commented: “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.”
Otman Ayoujil, Chief Executive Officer of Cloud Invest, stated: “We are thrilled to join Equiti Group and look forward to jointly becoming a unicorn in the global fintech space.
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.
Equiti Capital UK Ltd, which is regulated by the UK’s Financial Conduct Authority (FCA, is one of the several Equiti Group entities that include:
- Equiti Securities Currencies Brokers – LLC regulated and licensed by the UAE’s Securities and Commodities Authority (SCA);
- Equiti Group Limited Jordan – regulated and licensed by the Jordan Securities Commission (JSC);
- EGM Securities Ltd – regulated and licensed by Kenya’s Capital Markets Authority (CMA);
- Equiti Brokerage (Seychelles) Limited – regulated and licensed by the Seychelles Financial Services Authority (FSA);
- Equiti AM CJSC – regulated and licensed by the Central Bank of Armenia;
- Equiti Global Markets – regulated and licensed by the Cyprus Securities and Exchange Commission (CySEC).