eFinance to Acquire Fintech Tamweely in $99.8 Million Deal

Egypt-based eFinance for Financial and Digital Investments is moving to acquire 100% of Tamweely for Financial Services in a transaction valued at approximately $99.8 million (LE 5 billion).

The board-approved deal includes around $19.1 million (LE 956 million) in cash and the issuance of approximately 146.1 million new eFinance shares at $0.53 (LE 26.34) per share. The new shares will give Tamweely’s sellers an estimated 4% stake in eFinance.

The agreement also includes a performance-linked deferred payment scheduled for 2028, following the release of Tamweely’s 2027 financial statements.

eFinance plans to integrate Tamweely into a broader non-banking financial services platform, with scope to expand into areas including consumer finance and insurance. The group plans to use its existing digital infrastructure, data capabilities and artificial intelligence as it develops the platform, while targeting a threefold increase in revenues over the next three years.

The company is also studying further acquisitions in segments where its presence remains limited, including non-banking financial services, stock exchange-related activities and brokerage.

Meanwhile, eFinance has continued to expand its embedded finance operations. One of its subsidiaries processed transactions worth around $439.5 million (LE 22 billion) last year, while total embedded finance activity across the group is expected to reach approximately $879 million (LE 44 billion).

The acquisition comes alongside stronger financial results for eFinance. Net profit increased 91.4% year-on-year in the second quarter to approximately $19 million (LE 949.3 million), while first-half profit rose 64.5% to around $35.9 million (LE 1.8 billion).