Global Fintech Investments Holding, an affiliate of the Prism Group, formed a consortium with RSP to complete the purchase of Finablr in October.
In December, a sale for a nominal $1 was announced, but the buyers will also pay 25 per cent of any funds recovered from third parties in respect of possible historic wrongdoing at the company, up to a maximum of $190 million.
The consortium and Finablr have since been working with regulators and stakeholders to conclude the formalities of the acquisition.
“We are committed to implementing a long-term group-wide transformation programme at Finablr so that it can better serve its customers, strengthen its balance sheet and play a leading role in driving economic growth in the UAE,” Amir Nagammy, co-founder of Prism, said.