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A15 exits fintech startup TPAY with 100% fund value  

Cayman-based tech investment fund A15 said it has sold entire 76% stake in fintech startup TPAY to Helios Investment Partners in a full value returning deal.

“Following this transaction, A15 became the first fund in the Middle East and Africa which created a Dragon from one of its investments, TPAY,” said A15. “This exit is the second major exit for A15 in three years after the sale of Otlob, one of the leading regional online food delivery businesses, to Rocket Internet.”

A Dragon is an investment that returns the entire value of the fund when exited.

TPAY is a 4-year old open mobile payment platform with market share at 80% in the DCB space, also known as Direct Operator Billing, across 16 countries, with a total reach of 673 million users. The company had strategic partnerships with GooglePlay, Wargaming, NetDragon, CrossFire, Gameloft, OLX, Opensouq, MBC, iFlix, Abu Dhabi Media and Dubai Channels Network.

Karim Beshara, chairman of A15, said: “TPAY is a company that became a fund-maker owing to the unique approach in which A15 manages its portfolio companies. The remarkable achievement of TPAY is the result of a success-focused team that shares knowledge, drives business, and delivers results, both at a fund level and at a portfolio company level.”

Fadi Antaki, chief executive officer of A15, said: “Our fund teams provide strategic support and capacity, building best practices across key functions such as legal, finance, operations, HR and growth. A15’s ecosystem of regional offices and networks serve as a launchpad for our portfolio companies, as in the case of TPAY.”

A15 said it will continue creating and investing in disruptive tech and tech-enabled companies as well as focusing on building stronger verticals in fintech, e-commerce, SaaS and media with the aim of going public.

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