Fintech PR
Aleph Acquires Controlling Equity Interest in Localpayment and Targets $1.4 Trillion Digital Payments Market
Transformative deal combines expanded international payment processing capabilities with Aleph’s 20 years of leading digital marketing expertise, processing $3 Billion in yearly Total Payment Volume (TPV) and delivering an unrivaled offer for customers in emerging and high-growth markets.
MIAMI, Oct. 9, 2024 /PRNewswire/ — Aleph, a leading ecosystem of global digital experts and technology-driven solutions that enables the growth of global digital marketing, today announced the acquisition of a controlling equity interest in Localpayment, a fast growing Payment Service Provider (PSP) in Latin America, transforming the digital landscape by combining first class digital advertising solutions with seamless local payment capabilities, creating a natural network effect. Aleph will be able to leverage its exclusive relationships with top-tier digital platforms such as Amazon, Google, Snapchat, Spotify, TikTok, Uber, and X among others, along with over 26,000+ advertisers, digital native companies and online retailers to rapidly grow its payments solution.
With this acquisition, Aleph is set to further enhance its offering and capabilities. Already driving significant revenue for major digital advertising platforms in 130+ emerging and high-growth markets, Aleph, through Localpayment, will now be able to process billions of dollars in payments for its clients. Aleph is now the sole player in both the digital advertising and fintech ecosystems, with the latter projected to grow to $1.4 Trillion in LATAM by 20281.
Localpayment, now rebranded as Localpayment by Aleph, was founded in 2018 and offers integration via a single API in 17 countries across Latin America supporting pay-in and payout in +640 local payment methods including credit and debit cards, bank transfers, instant and QR code payments, digital wallets, and local Alternative Payment Methods (APMs) such as PIX in Brazil and Oxxo in Mexico. Partnering with industry leaders like PayPal (NASDAQ: PYPL) and Payoneer (NASDAQ: PAYO), Localpayment by Aleph adheres to the highest standards of KYC (Know Your Customer) and compliance protocols.
Aleph’s controlling equity interest in Localpayment unites Digital Advertising with Streamlined Payment Solutions
This acquisition strengthens Aleph’s leadership in connecting digital advertising with streamlined payment solutions across various industries, including streaming, digital media, gig economies, online retail, SaaS, hospitality, travel, financial services, and entertainment. Key figures highlight Aleph’s and Localpayment combined impact: $3+ billion Total Payment Volume (TPV), 60+ top-tier platforms and 26,000+ advertisers, a single API with 640+ payment methods, support for 70+ currencies and presence in 130+ countries.
Unmatched Advantage: Payments + Media Integration
Aleph’s acquisition of Localpayment accelerates the redefinition of how businesses in industries such as streaming, e-commerce and digital media, can operate by offering an integrated approach to payments and media. By enabling clients to manage their payment flows while leveraging digital media, this deal creates significant cost efficiencies and operational savings. Businesses can now optimize their payment processing and digital advertising or inventory in a single streamlined process.
Gaston Taratuta, CEO of Aleph, said: “For nearly two decades, we have focused on bridging the gap between leading ad-tech platforms and advertisers in emerging economies, creating an ecosystem where advertisers meet consumers. Now, we are taking a natural next step by integrating payment processing capabilities. This marks a significant evolution for Aleph, reflecting our belief in the ongoing shift from offline GDP to digital GDP, and driving even greater value creation for our partners and clients. We’re starting in Latin America and plan to roll out operations both organically and via acquisitions in Africa, the Middle East and Asia, where we already have a strong local presence.”
Ezequiel Israel, CEO of Localpayment stated: “We’re thrilled to be part of Aleph’s journey and mission. This deal accelerates our growth and gives us direct access to the global digital platforms, brands and online retailers that Aleph has long been associated with and provides them with a compelling combined offer.”
Localpayment by Aleph will be exhibiting at the leading fintech show Money 20/20 in Las Vegas from October 27-30, 2024.
Press contacts
[email protected]
Adam Bezeczky, Global Communications Manager
Via Hudson Sandler
[email protected] Andrew Leach, Adam Joste-Smith, Hudson Sandler
About Aleph
Aleph is a global network of digital experts and technology driven solutions that enables the growth of the digital ecosystem by operating in +130 countries and +70 offices, connecting over 26,000+ advertisers with over 3 billion consumers.
Through sales partnerships with 60+ leading digital media platforms (including Amazon, Google, Microsoft, Pinterest, Reddit, Snap, Spotify, TikTok, Twitch, Uber, X and. EA among others) Aleph empowers businesses and communities in high potential markets by building and supplying proprietary technologies with localized solutions, offering local teams of industry and platform experts.
Our purpose is to foster economic growth and opportunity for all by making the digital world more accessible.
www.alephholding.com
About Localpayment by Aleph
Localpayment by Aleph is revolutionizing the financial landscape by providing cutting-edge technology to simplify payment services for customers, digital media and content platforms. Unburdened by legacy systems, Localpayment supports pay-in and pay-out with 640+ payment methods across 50+ currencies in over 17+ countries. Evolving with customer needs and market trends on a global scale, Localpayment by Aleph is transforming the digital landscape by combining top-notch digital advertising solutions with seamless local payment capabilities to streamline their operations with one unique partner.
Localpayment by Aleph drives financial inclusion and expands access to underserved populations, accelerating the shift from offline to online GDP on a global scale.
www.localpayment.com
1 Market opportunity represents estimated total digital payments volume in LATAM. The calculation of market opportunity is based on a report prepared by Americas Market Intelligence, LLC.
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Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
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DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
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DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
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