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HyperPay acquires fintech start-up Sanad Cash

HyperPay, headquartered in Riyadh and founded in 2010, offers a range of services, including mobile payments, e-commerce solutions, and prepaid cards

Women’s Tabloid News Desk
Women’s Tabloid News Desk

HyperPay, the leading payment services provider in the MENA region, has completed the acquisition of Saudi fintech company Sanad Cash, marking a significant step in the expansion of HyperPay’s payment solutions throughout the region. The acquisition is expected to strengthen HyperPay’s standing as a comprehensive payment gateway across MENA, streamlining financial transactions for individuals and businesses.

HyperPay and Sanad Cash will collaborate in the upcoming months to seamlessly integrate Sanad Cash’s services into HyperPay’s existing system. The move aligns with HyperPay’s strategic vision of offering a comprehensive range of digital payment solutions, encompassing both issuing and acquiring services, to its diverse customer base.

Muhannad Ebwini, Founder and CEO of HyperPay, expressed his enthusiasm about the acquisition, stating that the synergy between the two companies will lead to enhanced tools and services, ultimately simplifying financial operations for businesses of all sizes. Leveraging Sanad Cash’s expertise in expense management, HyperPay aims to cater to a broader spectrum of customer needs, delivering a unified and user-friendly platform for various digital payment requirements.

Mahmoud Iswiad, the Founder and CEO of Sanad Cash, shared his perspective on the acquisition, emphasizing the shared goal of building a dynamic and comprehensive digital payment ecosystem that addresses the evolving needs of users. Sanad Cash has garnered recognition for its advanced and secure expense management solutions.

With a current presence in seven countries and a customer base of over 5,000 merchants, HyperPay provides payment technologies to governments, companies, and SMEs.

HyperPay had previously announced plans to expand its operations in Saudi Arabia through an initial public offering (IPO) within the next two years. Sanad Cash, established in 2021, specializes in providing a spend management platform for corporates, streamlining and automating expense management processes.

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