Additional stake in Jordan’s MadfoatCom acquired by Egyptian fintech startup Basata
In an effort to strengthen its position in promoting digital financial inclusion throughout the region and improving Jordan’s digital payments infrastructure, Egyptian fintech startup Basata has raised its ownership of MadfoatCom to 25%.
Basata (formerly known as Ebtikar) is an e-payment platform that specializes in supply chain solutions, bill payments, and mobile money. It was founded in 2009 following the merger of Masary and Bee.
In contrast, MadfoatCom, which Nasser Saleh founded in 2011, offers a real-time online bill payment system.
In an effort to better support its role in boosting digital financial inclusion in the region and improving Jordan’s digital payments infrastructure, Basata has now raised its ownership of MadfoatCom to 25%.
“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.
