Arab Financial Services lands $50m investment
Arab Financial Services (AFS), a digital payments solutions provider headquartered in Manama, Bahrain, has secured a $50 million capital injection.
Arab Financial Services bags $50 million cash injection
With offices and data centres in the UAE, Bahrain, Egypt and Oman, AFS plans to use the new capital to expand into new markets and scale operations.
This includes leveraging its Egyptian payments licence to increase its acquiring market activities.
The vendor currently reports “making progress” toward launching merchant acquiring services in the UAE, while also eyeing African markets for “growth in its processing business”.
The new funding comes after a year of “notable progress” in 2023, AFS claims, including an expanded client base, completed migrations, and the launch of its Wallets-as-a-Service solution.
