Egyptian company MDP, which provides payment technology in the Middle East and Africa, has announced it has a major investment. The funding was led by Lorax Capital Partners (LCP) and included support from several international development finance groups.
This investment happened at the same time as MDP’s former partner, AfricInvest, successfully ended its involvement. AfricInvest has been an important part of helping the company grow over the past few years.
MDP offers a complete range of payment technology services. This includes everything from making and processing cards to providing digital solutions through top developer platforms.
The company also has advanced financial technology tools and serves over 200 banks and 60 fintech companies across Africa and the Middle East.
So far, MDP has handled over one billion transactions and issued more than 350 million cards. The company continues to help more people access financial services and supports the move toward digital payments in the region.
Ahmed Nafi, the co-founder and CEO of MDP, said this investment is a big step forward for the company. He believes the trust they’ve earned in over 40 countries has helped them reach this point.
With support from long-term investors like Lorax Capital Partners, MDP now has the momentum to grow faster, improve its technology, and enter new markets.
This joint investment from major global organizations like the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Proparco shows strong trust in MDP.
It highlights MDP’s important role in building better payment systems and encouraging digital innovation in developing countries.
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