Tech Mahindra Limited — JV/Acquisition, 20-12-2024: Acquisition

Yabx Technologies (Netherlands) B.V., a wholly owned subsidiary of Comviva Technologies, has entered into an agreement to acquire a 12% voting stake and an 18% non-voting stake in Furaha Holdings Limited, amounting to a total valuation of USD 3 million. This acquisition positions Yabx as a strategic technology partner for Furaha in the fintech space, focusing on digital lending across Africa. The deal aims to leverage AI and ML capabilities to tap into underserved customer segments, with potential for revenue sharing as Furaha grows. Yabx will ultimately hold a 19.35% voting stake in Furaha.