TPay, the MENA region’s first and biggest Direct Carrier Billing platform, and one of A15’s portfolio companies, announced today that it acquired 100% of DCBEgypt, the second largest Direct Carrier Billing service provider in Egypt, for an undisclosed amount.
TPay was among the first Fintech companies in the region to revolutionize digital payments by connecting consumers, businesses and mobile operators using Direct operators billing (DOB) - the highest penetration and most useable mobile payment method. Founded in Jan 2014, TPay has since then processed over 2.6 billion transactions from across the region.
“It is a very exciting moment for TPay to be able to make its first acquisition after only 3 years of operations, which is a great achievement for any company at this young age.” Said Sahar Salama, CEO of TPAY Mobile. “The acquisition fits our strategic and ambitious growth plans to serve more partners and accelerate moving to the next level in TPAY’s growth plans.” Added Sahar.
Founded in October 2014, DCBEgypt offers direct carrier billing services with 2 mobile operators in Egypt. “Sharing the same vision and strategic plans; We are positive that we made the right decision to handover what we built to what is fast shaping up to be the region's most important Fintech player,” said Mostafa Elshafey, CEO of DCBEgypt. “We are very confident that TPay’s management will continue to deliver exceptional growth and we wish the TPay team the very best in their future plans”. Added Mostafa.
A15’s CEO, Fadi Antaki said, “Although TPay, in age, might be considered as a startup, its revenues categorize it as a large company. “It took only 3 years for Tpay to grow from merely a technology startup to a strong, sustainable, and fast growing Fintech business, covering the whole Gulf and North African regions. To boost this super growth even more, TPay has moved to acquire the second largest direct billing player in the Egyptian market to become without doubt the number one direct billing company in the region” Added Antaki.
TPay is currently actively present in more than 13 countries in MENA with aggressive expansion in progress, and with the acquisition of DCBEgypt, TPay will be able to offer DCBEgypt’s Clients a greater regional experience and allow them to vastly expand their presence inside and outside Egypt.
The MENA region had experienced explosive growth in the fintech industry making it among the top 5 industries in MENA that are most popular for investment in 2017. Over the last 10 years, MENA fintech startups have raised over $100 million in funding, with other reports indicating that the number of startups launched and investments raised will be more than double by 2020.