Merchantrade Asia acquires Valyou

Merchantrade Asia acquires Valyou

KUALA LUMPUR: MERCHANTRADE ASIA SDN BHD has completed the acquisition of a 100 per cent stake in Valyou Sdn Bhd from Norwegian Telenor Group following a competitive bidding exercise.

Valyou is a fast-growing mobile financial technology player in Malaysia and a leading cross-border digital remittance service provider.

“The acquisition will result in Merchantrade having a combined annual remittance turnover value (based on 2019 figures) of more than RM11 billion which includes domestic outbound and international aggregator transactions,

“It also will bring about an exponential growth in Merchantrade’s digital business, especially for Merchantrade Money,” it said in a statement today.  

Merchantrade managing director Ramasamy K Veeran said the acquisition will further strengthen and expand the company’s digital channel and present it with new opportunities to partner with more financial services provider and set the stage for the company to go regional.

— BERNAMA


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