Middle East Operating WadzPay Secures $37mn Investment Commitment From GEM Global Yeild

The funding commitment is in the form of a Share Subscription Facility (SSF) from GEM, the company said.

The capital infusion will accelerate the company’s growth strategy via acquisitions, partnerships and organic initiatives, it said.

The agreement envisages the Share Subscription Facility granting WadzPay the option to call upon GEM to subscribe for ordinary shares up to a total value of SGD (Singapore dollar) 50 million upon a successful public listing for a thirty-six-month period.

“Securing this substantial commitment early in our journey fuels our mission and equips us with the resources to accelerate innovation and scale rapidly,” said Anish Jain, Founder & CEO of WadzPay.

“We are thrilled to have GEM’s support as we pursue our public listing and expand our global reach,” he said.

Jain said the partnership with GEM is a powerful validation of the transformative impact WadzPay is making in the financial services and blockchain space.

The strategic investment from GEM marks a significant milestone for WadzPay, solidifying its position as a leading player in the global financial services and blockchain industry.

WadzPay operates across geographies spanning the Middle East, Asia Pacific, Africa, Europe, and the Americas.

It works with large international companies, banks, and fintechs to enable virtual asset-based transaction processing, custody, and settlement.