View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
April 22, 2021

Future FinTech signs deal to acquire Khyber Money Exchange

By Shalini mani

Future FinTech, a fintech service provider and blockchain-based e-commerce business, has signed a preliminary term sheet to acquire Khyber Money Exchange.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

According to the term sheet, Future FinTech will buy 100% of the equity of Khyber Exchange at a purchase price of approximately $820,170 (€685,000).

Khyber Exchange is a money transfer company, which offers a platform for transferring money internationally via its agent locations or online portal, mobile platform as well as over the phone.

It is headquartered in the UK with offices in Germany and Italy.

Khyber Exchange CEO Rahim Sham said: “As a worldwide money transfer company, Khyber Exchange can transfer money over 130 countries through its agents or its online portal, mobile platform or over the phone.

Money transfers can be picked up in its offices or via the beneficiary’s bank account which is credited with the transmitted funds within 24 to 48 hours.

The acquisition follow Future FinTech’s decision to buy a 60% stake in Chinese payment settlement services company Hi-Card Business Service.

Commenting on the deal, Sham said the potential acquisition by FTFT will help the company expand its business and operation in Asia, especially in the fast-growing Chinese market.

Future FinTech CEO Shanchun Huang said the potential deal will further extend the company’s footprint into the fintech sector.

Huang added: “Our objective is to become diversified fintech enterprise that leverages current opportunities and integrate them into a comprehensive business platform, and to create a company that can meet current financial needs as well as anticipate and develop fintech solutions for the future.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International