Investcorp Technology Partners aka ITP from Bahrain of their acquisition of all of the business and assets of MIR Limited which is the UK-based FinTech startup company. The startup works with innovative and award-winning payment platforms along with operating with e-wallet solutions as well.
Founded back in 2016, MIR Limited has been gradually growing as one of the fastest fintech businesses in the region. Ever since their foundation, they’ve been providing world-class wearable contactless payment technology. Their innovations are aimed at integrating seamless E-wallet services and Master-Card branded prepaid debit cards. Up until now, Investcorp has managed to establish its market-leading position of investing in several markets including lower mid-market technology companies. Their current focus on the companies is IT Security, Data/Analytics, Payment sectors/Fintech.
Mr. Israel Rosenthal, the founder of MIR Limited, who will remain as CEO, commented on this acquisition “We are delighted by ITP’s acquisition of the Business. ITP brings a proven track record of investment success, expertise, and global network in the payments and technology sectors which will help realize the enormous growth potential for the Business and I look forward to working with the ITP team.”
Georg Knoflach, Managing Director, Investcorp Technology Partners, concluded “MIR Limited’s strong product offering and capacity for innovation has positioned it at the forefront of ongoing advancements in payments. The acquisition marks the beginning of a fruitful partnership between Investcorp and the Business as we look to position it as a leader in the sector. We see many exciting opportunities ahead – both organic and inorganic – and are looking forward to working with Mr. Rosenthal to take the Business to the next stage in its development.”