Reuters
2 minute read
DUBAI, Aug 3 (Reuters) - The financial consortium that bought struggling payments company Finablr will rebrand it as WizzFinancial and merge it with a newly-purchased Bahraini company to create the largest money transfer group in the region, it said on Tuesday.
Switzerland-headquartered Prism Group AG and Abu Dhabi s Royal Strategic Partners in December bought Abu Dhabi-headquartered payments company Finablr (FINF.L) for a nominal $1 after it ran into financial difficulties after a financial scandal involving Indian entrepreneur BR Shetty erupted last year. read more
The same consortium has bought the Bahrain Financing Company (BFC), which works in money transfer and currency services with a presence in Bahrain, India and Kuwait.
Finablr rebranded WizzFinancial; set to merge with BFC Bahrain
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