Egypt’s Basata Increases Stake in Jordan’s MadfoatCom to 25%
TLDR
- Egyptian fintech company Basata has increased its stake in Jordan’s digital payments platform MadfoatCom to 25%
- The move aims to expand digital financial inclusion and enhance Jordan’s payments infrastructure
- MadfoatCom, founded in 2011 by Nasser Saleh, provides a real-time online bill payment system and works with key Jordanian financial institutions
Egyptian fintech company Basata has increased its stake in Jordan’s digital payments platform MadfoatCom to 25%, strengthening its position in the region’s financial services sector. The move aims to expand digital financial inclusion and enhance Jordan’s payments infrastructure, Basata said in a statement.
Basata, formerly known as Ebtikar, was formed in 2009 through the merger of Masary and Bee. The company specializes in bill payments, mobile money, and supply chain solutions.
MadfoatCom, founded in 2011 by Nasser Saleh, provides a real-time online bill payment system and works with key Jordanian financial institutions.
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Key Takeaways
Basata’s increased stake aligns with its strategy to grow across the Middle East and North Africa (MENA) region. The investment reflects rising fintech consolidation as companies seek regional expansion and stronger infrastructure for digital transactions. Jordan’s fintech sector has been expanding, driven by increased mobile payment adoption and government-led financial inclusion efforts. Partnerships between Egyptian and Jordanian fintech firms signal deeper regional integration, positioning companies like Basata and MadfoatCom to benefit from a growing demand for cashless payments and digital financial services.
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