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Illustration by Radia Durrani Before it collapsed in 2019, the Dubai-based Abraaj was the world’s biggest private equity firm focused on emerging markets, with some $14 billion of assets under management. Its founder and chief executive, the charismatic Karachi-born Arif Naqvi now stands accused of unprecedented fraud and theft to the tune of $780 million. He is appealing an extradition order from London to the US, where he faces up to 291 years in jail. Two reporters associated with the Wall Street Journal, who first broke the story of problems at Abraaj, have penned a book detailing their investigations. The book, published internationally on July 8, is based on official indictments, on Abraaj emails that became a part of the court record and interviews with over 150 people, including 70 who worked for Abraaj. ....
Australia-based Zip Acquires Dubai's Spotii for $16.3 Million cairoscene.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cairoscene.com Daily Mail and Mail on Sunday newspapers.
Zip Expands into Europe and the Middle East, with the Acquisitions of European BNPL Provider Twisto and UAE-based Spotii yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Quadpay, A Zip Co.: Zip Expands into Europe and the Middle East, with the Acquisitions of European BNPL Provider Twisto and UAE-based Spotii Zip Co Limited (ASX: Z1P) ( Zip or the has agreed to acquire the remaining shares of European Buy Now Pay Later ( BNPL ) provider Twisto Payments a.s. ( Twisto ) and has also entered into an agreement to acquire the remaining shares of UAE-based BNPL leader Spotii Holdings Ltd ( Spotii The transactions align with Zip s global expansion plans and the rapidly accelerating global BNPL opportunity. As demonstrated through the acquisition of QuadPay, where annual transactions have soared by over 200% post acquisition, Zip is building its playbook in successfully identifying, completing, and integrating strategic acquisitions. Twisto and Spotii are now well-positioned to leverage the benefits of this competency and the synergies of a truly global payments organisation. Twisto and Spotii are integrated into Z ....
Zip founders Larry Diamond and Peter Gray. Zip is spending $160 million to acquire two overseas buy now, pay later partners, Twisto and Spotii, outright. Twisto, making up the lion’s share of the investment, operates in the more mature European market while Spotii, based out of the United Arab Emirates (UAE) is being pitched as a growth opportunity in a market yet to experience the overcrowding of BNPL players. It comes as both Zip and its main rival Afterpay try to maintain significant growth rates amid declining share prices. Australia’s second-largest buy now, pay later platform is upping the ante in its bid for international expansion, as it moves into the Europe and Middle East markets. ....