– Mitgo Group, a German technology firm, has acquired UAE-based finance platform Embedded to enter the financial services market.
– The acquisition aims to support the launch of a new business division focused on fintech services for affiliate publishers.
– Mitgo Group anticipates significant growth in the affiliate marketing sector, which is forecasted to exceed $15.7 billion in spending this year, up from $14.4 billion in 2023.
German technology firm Mitgo Group has acquired the UAE-based finance platform Embedded, marking its entry into the financial services market, according to a company statement.
The company stated that it will facilitate the launch of a new business division focused on fintech services for affiliate publishers.
Mitgo Group is optimistic about the affiliate marketing sector, which is projected to surpass $15.7 billion in spending this year, up from $14.4 billion in 2023.
“In the next three years, Mitgo plans to become a conduit for more than 7% of that transaction volume, which can be valued at more than $1.5 billion, given the sector’s growth,” Mitgo stated in a release.
The new division will offer solutions in embedded finance, catering to publishers with a specific focus on underbanked audiences in the MENA, APAC, and LATAM regions.
These solutions will enable publishers to instantly withdraw their earnings, bypassing the standard waiting period of 60 to 120 days.
Additionally, publishers will gain access to loans, reduced transaction costs and exchange commissions, and accelerated transactions, among other benefits.
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