Egyptian fintech startup Basata has increased its stake in Jordan’s MadfoatCom to 25 per cent, further strengthening its role in accelerating digital financial inclusion across the region and enhancing the digital payments infrastructure in Jordan.
Founded in 2009 after the merger between Masary and Bee, Basata (formerly known as Ebtikar) is an e-payment platform specialised in bill payments, mobile money and supply chain solutions.
MadfoatCom, meanwhile, was founded in 2011 by Nasser Saleh, and provides an online, real-time bill payment system.
Basata has now increased its stake in MadfoatCom to 25 per cent, a move it said would strengthen its role in accelerating digital financial inclusion across the region and enhancing the digital payments infrastructure in Jordan.
“Our strategic stake in MadfoatCom, in partnership with Jordan’s most respected financial institutions, represents a pivotal step in our regional growth strategy. This collaboration will enable us to expand our network, introduce cutting-edge financial solutions, and create a more inclusive digital economy in Jordan and beyond,” said Aladdin Saba, chairman of Basata.
