TPAY Mobile FZ-LLC has been acquired by Helios Investment Partners
A15 Holding Netherlands B.V. has sold a 76% stake in TPAY Mobile FZ-LLC to London-based African private equity fund Helios Investment Partners. Financial details have not been disclosed.
Established in 2014, TPAY is an international fintech payments business that primarily operates in the Middle East and North Africa (MENA) region, where only 14% of the population has a bank account but over 60%, and growing, have mobile phones. As a result, the region is characterized by low debit and credit card use and correspondingly low online payment conversion rates. TPAY has grown rapidly and is the dominant direct carrier billing (DCB) player in MENA. The business currently operates in 16 countries and is partnered with 33 mobile phone carriers, providing almost 100% user coverage and 80% market share across the region.
Oaklins Cavendish, based in the UK, advised the seller in this transaction.
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