Windsor Drake Market Intelligence
Transaction · Financial Data / Open Banking · 2022

Fintech Galaxy / Underlie 2022

Fintech Galaxy acquired Underlie on December 23, 2022.

Target
Underlie
Acquirer
Fintech Galaxy
Announced
December 23, 2022
Sub-sector
Financial Data / Open Banking

Transaction overview

  • Fintech Galaxy announced the acquisition of Underlie on December 23, 2022.

Strategic rationale

Acquire Open Banking API expertise and local Egyptian market knowledge to expand Fintech Galaxy's Open Finance and Open Banking services across the region.

Deal terms & multiples

Deal value
Not disclosed
Target revenue
Not disclosed
Target EBITDA
Not disclosed
EV / Revenue
Not disclosed
EV / EBITDA
Not disclosed
Announcement
December 23, 2022
Acquirer
Fintech Galaxy (Strategic)
Sub-sector
Financial Data / Open Banking

Sources

  • thepaypers.com /online-mobile-banking/fintech-galaxy-expands-as-it-acquires-egypts-open-banking-platform-underlie--1259662

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