Egyptian Payments Tech Firm MDP Secures Strategic Investment Led by Lorax Capital Partners
MDP, an Egyptian company specializing in providing payment technology infrastructure solutions across the Middle East and Africa, has announced it has secured a significant strategic investment. The funding round was led by Lorax Capital Partners (LCP) and saw participation from a group of global financial development institutions. This development coincides with the successful exit of MDP's previous partner, AfricInvest.
Powering Payment Infrastructure Across MEA
MDP has established itself as a crucial enabler in the digital payments ecosystem, offering an integrated infrastructure system for payment technologies. Its comprehensive solutions range from card issuance and processing to digital cloud solutions, supported by leading developer platforms and embedded financial technology capabilities. The company serves an extensive client base, including over 200 banks and 60 financial technology companies throughout Africa and the Middle East.
New Investment to Fuel Growth and Innovation
This strategic investment, spearheaded by Lorax Capital Partners and backed by reputable international financial development institutions, is set to bolster MDP's growth trajectory. The fresh capital is expected to enhance MDP's capacity to develop its innovative solutions further, expand its reach in existing and new markets, and solidify its position as a key driver in developing payment infrastructure in emerging markets.
AfricInvest Concludes Successful Partnership
The new investment round also marks a successful exit for AfricInvest, a leading pan-African investment platform that had previously partnered with MDP. This transition signifies a new chapter for MDP as it aligns with new strategic investors to pursue its next phase of expansion and innovation.
About MDP
MDP is an Egyptian-founded company that provides critical infrastructure for payment technologies. It caters to banks, financial institutions, and FinTech companies across the Middle East and Africa, offering a suite of services that underpin digital payment processing, card services, and innovative financial solutions.
About Lorax Capital Partners (LCP)
Lorax Capital Partners is an Egypt-focused private equity firm. LCP invests in a diverse range of sectors, aiming to partner with promising Egyptian companies to drive growth, enhance operational efficiencies, and create long-term value. Their investment in MDP highlights a focus on the burgeoning financial technology sector.
Driving Digital Transformation in Emerging Markets
The confidence shown by Lorax Capital Partners and other global financial development institutions reflects the increasing importance of robust payment infrastructure in promoting digital innovation and financial inclusion in emerging markets. MDP's role is seen as pivotal in this transformation, enabling a more accessible and efficient digital financial ecosystem.
Looking Ahead
With this new strategic backing, MDP is well-positioned to accelerate its mission of empowering financial institutions and FinTechs across the Middle East and Africa. The company is expected to leverage this investment to enhance its technological capabilities, expand its service offerings, and deepen its impact on the digital payments landscape in the regions it serves.
Source: Jawlah