UAE-based fintech company GlobalPay has added Saudi technology entrepreneur and executive Abdulaziz Al-Salloum to its shareholder base after he acquired a 10% stake in the company.
The transaction agreements were signed in Egypt in the presence of GlobalPay CEO Tamer Shawer and Al-Salloum. The company said the deal will strengthen its shareholder base and support expansion across financial technology, digital payments and integrated technology solutions.
GlobalPay operates in Egypt through MasrPay, which develops digital payment acceptance and management solutions for merchants and businesses. In Saudi Arabia, it has established GlobalPay KSA-Alam Al-Dafaa to develop fintech and digital payment solutions and build its presence in the market.
Al-Salloum brings experience in Saudi Arabia’s technology and digital transformation sector. He previously led Duroob Technology and served as CEO of Saudi-based AppsPro, which Accenture announced it would acquire in 2021.
GlobalPay said the partnership is intended to connect its activities in the UAE and Egypt with its planned growth in Saudi Arabia, while focusing on creating value for customers and local markets.
Source: EntArabi
