Saudi JournalSaudi Journal
  • Home
  • Saudi Arabia
  • Business
  • Life
  • Technology
  • English
  • العربية
  • Submit A Press Release
Business

Rock Developments prepares to operate Rock Capital 1, a one-mln-sq.ft. business landmark

…

Business

The Capital Market Authority calls for public consultation on capital market institutions offering robo-advisory services

…

OQEP announces audited financial results for first half 2025

Center3 and stc Bahrain announce strategic Gulf-to-Red Sea terrestrial interconnection

Facebook Twitter Instagram Pinterest
Latest posts:
  • Rock Developments prepares to operate Rock Capital 1, a one-mln-sq.ft. business landmark
  • The Capital Market Authority calls for public consultation on capital market institutions offering robo-advisory services
  • OQEP announces audited financial results for first half 2025
  • Center3 and stc Bahrain announce strategic Gulf-to-Red Sea terrestrial interconnection
  • Prime Developments and Osoul for Tourism Development launch “CLAN” project in Hurghada
  • COMEX signs strategic MoU with Oman’s Unified Promotional Identity Office to fuse innovation with national identity
  • Ajman Bank partners with Expleo to establish a testing centre of excellence
  • Global Markets Stage at SBC Summit to Explore What’s Next for North America
Facebook Twitter Instagram Pinterest
Saudi JournalSaudi Journal
  • Home

    Rock Developments prepares to operate Rock Capital 1, a one-mln-sq.ft. business landmark

    The Capital Market Authority calls for public consultation on capital market institutions offering robo-advisory services

    OQEP announces audited financial results for first half 2025

    Center3 and stc Bahrain announce strategic Gulf-to-Red Sea terrestrial interconnection

    Prime Developments and Osoul for Tourism Development launch “CLAN” project in Hurghada

  • Saudi Arabia
  • Business
  • Life
  • Technology
  • English
  • العربية
  • Submit A Press Release
Saudi JournalSaudi Journal
Home » Mitgo Group will invest $20 million in its fintech arm Capy
Business

Mitgo Group will invest $20 million in its fintech arm Capy

Facebook Twitter Pinterest LinkedIn WhatsApp
Share
Facebook Twitter LinkedIn Pinterest WhatsApp

One of the leaders in the MarTech industry, Mitgo Group, has made the first tranche of investment in its recently launched fintech business, Capy. This investment will be the initial step in a 20 million dollar investment package planned for the coming 3 years. The first investment tranche will go towards developing the initial version of the platform with a focus on early and accelerated payment solutions. 

Back in Q1 2024 Mitgo Group announced the launch of fintech services for publishers of the affiliate market – cashback-services, media buyers, loyalty programs, BNPL services and many others. The new direction was planned to be launched on the basis of the recently acquired UAE embedded finance platform Embedded, whose team has extensive experience in fintech. Since the acquisition, the business has received additional funding and comprehensive support and has been relaunched as Capy within Mitgo’s global holding company, which already has more than 15 businesses under its wing. 

According to conservative estimates, affiliate marketing spend reached $14.4 billion in 2023 and will exceed $15.7 billion this year. In the next three years, Mitgo plans to become a conduit for more than 7% of that transaction volume, which can be valued at more than $1.5 billion given the sector’s growth. The investment in Capy is aimed at realizing this plan as soon as possible. The first solutions will be launched in the third quarter of 2024. 

The first version of the service will focus on early payout products, one of the biggest growth points in the affiliate industry right now. Despite substantial and ever-growing revenues publishers remain in the underbanked zone, as classic financial institutions lack the expertise to fairly score such customers and can’t offer them a proper variety of products. Financial institutions are missing out on billions of dollars in profits on this customer segment while publishers are unfairly limited in growth acceleration opportunities. Mitgo and Capy will be able to solve both problems through their solutions and mediator role. 

Long wait for payments is another sore spot for the affiliate industry at the moment, so naturally solution to this issue will be the second priority. Capy’s suite of solutions based on embedded finance technology and Mitgo’s 15+ years of experience in this market will reduce payment terms from the current industrial average of 60-120 days to just one day. Implementation of these technologies will lead to explosive growth of the partner market and multiple growth of profits of its participants due to accelerated capital turnover. 

Leading financial institutions have already recognized the enormous potential of these solutions.  Right now, Capy is in talks with a number of major players in the financial industry – banks, payment systems, e-wallets and others. Partnerships with financial market leaders in MENA, Europe, North America and other key regions will be announced soon. 

Share. Facebook Twitter Pinterest LinkedIn WhatsApp

Related Posts

Business

Rock Developments prepares to operate Rock Capital 1, a one-mln-sq.ft. business landmark

Business

The Capital Market Authority calls for public consultation on capital market institutions offering robo-advisory services

Business

OQEP announces audited financial results for first half 2025

Business

Center3 and stc Bahrain announce strategic Gulf-to-Red Sea terrestrial interconnection

Business

Prime Developments and Osoul for Tourism Development launch “CLAN” project in Hurghada

Business

COMEX signs strategic MoU with Oman’s Unified Promotional Identity Office to fuse innovation with national identity

Business

Ajman Bank partners with Expleo to establish a testing centre of excellence

Business

Global Markets Stage at SBC Summit to Explore What’s Next for North America

Stay In Touch
  • Facebook
  • Twitter
Business

Rock Developments prepares to operate Rock Capital 1, a one-mln-sq.ft. business landmark

Rock Developments has announced that its flagship administrative project, Rock Capital 1, is fully prepared…

The Capital Market Authority calls for public consultation on capital market institutions offering robo-advisory services

OQEP announces audited financial results for first half 2025

Center3 and stc Bahrain announce strategic Gulf-to-Red Sea terrestrial interconnection

Prime Developments and Osoul for Tourism Development launch “CLAN” project in Hurghada

Rock Developments prepares to operate Rock Capital 1, a one-mln-sq.ft. business landmark

The Capital Market Authority calls for public consultation on capital market institutions offering robo-advisory services

OQEP announces audited financial results for first half 2025

Center3 and stc Bahrain announce strategic Gulf-to-Red Sea terrestrial interconnection

Prime Developments and Osoul for Tourism Development launch “CLAN” project in Hurghada

Stay informed with Saudi Journal, your trusted source for comprehensive coverage of news, events, and insights from Saudi Arabia and beyond. Explore diverse perspectives, stay updated, and engage with the latest stories shaping our world. Experience news like never before with Saudi Journal.

Facebook Twitter
Categories
  • Business (431)
  • Life (124)
  • Saudi Arabia (80)
  • Technology (75)
  • Uncategorized (1)
  • World (56)
    • Africa (11)
    • Asia (25)
    • Europe (5)
    • US (3)
Our Picks
Business

Al Baraka Group: Empowering customers through trade finance platform and diversified network

Business

viAct raises $7.3 million to accelerate MENA expansion

Business

New analysis explores PNU’s role in supporting Vision 2030 through education, leadership, and workforce development

© 2025 Saudi Journal.
  • Home
  • Saudi Arabia
  • Business
  • Technology
  • Life
  • English
  • العربية

Type above and press Enter to search. Press Esc to cancel.