MCI Capital partially exits from an investment in a British payment solutions provider. At the same time, it will become a shareholder of its new, larger owner.
British fintech Azimo, which MCI entered in 2015, acquired a strategic investor – the Israeli Papaya Global group. This is associated with a reshuffle in the portfolio of the Polish fund.
– We are partially exiting the investment in 50 percent. We will convert our package in Azimo into cash. The rest will be exchanged for a stake of Papaya Global shares – explains Michal Gorecki, senior investment director at MCI.
The value of the transaction was not disclosed, but it was “a nine-figure amount in British pounds.”
– We cannot disclose financial details, but we achieved a good return on this investment, and we hope for a further dynamic increase in the value of our stake in Papaya – assures Michał Górecki.
Papaya is now another unicorn in MCI’s portfolio.