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Tarabut completes acquisition of Vyne to lead MENA's Open Banking expansion

PRIVATESep 03, 2024

Acquiring Company

Tarabut

Acquired Company

Vyne

DubaiLondonFinancial ServicesFinanceFintechLendingBankingFinancial Services

Description

Tarabut, the first and largest regulated open banking platform in the MENA region, has officially acquired Vyne, a London-based real-time account-to-account (A2A) payments platform. This strategic acquisition strengthens Tarabut’s ability to deliver faster, more accessible, and more interconnected financial services, both across the region and globally, positioning them to lead as new regulations for Payment Initiation Services in Saudi Arabia and Open Finance in the UAE come into effect.

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Company Information

Company

Tarabut

Location

Dubai, Dubai, United Arab Emirates

About

Tarabut is the MENA region’s leading, regulated financial technology platform, connecting the financial ecosystem to power seamless, smart and inclusive finance. Since 2017, Tarabut has built the region’s leading financial data infrastructure and partnered with top banks to unlock new revenue streams and expand financial access. By externalising financial data through open banking, enhancing it with advanced analytics and data intelligence, and embedding financing directly into digital customer journeys, Tarabut helps banks, financial institutions, businesses and individuals unlock new opportunities and bridge the financing gap that holds back economic growth and financial inclusion across the region.

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Frequently asked

Who acquired Vyne?

Vyne was acquired by Tarabut, based in Dubai. The deal was reported on September 3, 2024. Tarabut is the MENA region’s leading, regulated financial technology platform, connecting the financial ecosystem to power seamless, smart and inclusive finance. Tarabut is privately held and operates in Financial Services.

When did Tarabut acquire Vyne?

Tarabut's acquisition of Vyne was reported on September 3, 2024. Tarabut, the first and largest regulated open banking platform in the MENA region, has officially acquired Vyne, a London-based real-time account-to-account (A2A) payments platform. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does Vyne do?

Vyne uses open banking to power account-to-account payments for online businesses, setting the course for the future of payments. It is privately held, operating in Financial Services, and is based in London.

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