By Daniel Webster, dWeb.News Publisher
DUBAI, UAE; MANAMA, Bahrain and GRAND CAYMAN, Cayman Islands, Sept. 15, 2021 /PRNewswire/ — Dubai based Social Fintech company EQ Group LLC (EQG), the company with the super app ecosystem, flaim, announced a strategic partnership with Bahrain-based fintech Infinios Financial Services B.S.C. (c) (Infinios). Infinios offers digital banking and payment technology solutions. These solutions facilitate open integration between financial institutions, the fintech ecosystem, and encourage financial inclusion by the adoption of innovative digital financial service products.
To strengthen the strategic partnership between the companies, nDigital Ventures (nDigital), an incubator and accelerator to fintech and digital platform businesses, acquired a meaningful equity stake in EQG; both Infinios and nDigital are subsidiaries of nDigital Holdings SPC, a group holding company based in the Cayman Islands.
EQG, having developed and built the super app ecosystem, flaim, which combines social media, digital and fiat payments, a marketplace, gaming and other complimentary services within a single ecosystem, has partnered with Infinios to use its banking as a service (BaaS) platform to enable flaim users to pool digital and fiat assets and access IBAN accounts, cards, contactless payments, transfers and remittances, and other related ancillary services within numerous jurisdictions.
“The partnership with Infinios allows us to scale our business quickly, while integrating leading edge fintech and digital banking services for our growing community of over half a million flaim users,” stated Derek Roga, the CEO of EQ Group. “Furthermore, having a secure and reliable partner whose aggressive growth and continual development of innovative fintech services such as the virtual pooling of digital and fiat assets, truly enables our ecosystem of users by providing access to deeply-embedded state-of-the-art financial services directly within flaim. This functionality will result in increased engagement and aggressive subscriber growth across the EMEA region. “
Andrew Sims, CEO, of nDigital and Infinios said, “We are delighted to be welcoming flaim into nDigital’s accelerator program and empowering their product offering using the Infinios Infinite Financial Solutions platform. Our belief in their business model and ambitious growth plans, resulted in us taking a meaningful equity position in EQ Group through nDigital and committing Infinios to a long-term enablement partnership that will enhance flaim’s overall value proposition. Infinios’ digital banking and issuing and acquiring processing technologies, combined with its direct and indirect access to banking and payment services licenses across the EMEA and North American regions, are an excellent complement to flaim’s social media distribution channels and digital asset capabilities. Infinios and flaim will be able to enjoy dynamic market penetration, rapid growth across multiple distribution models and segments through the integration and customizations. “
The terms of Infinios’ strategic partnership and equity share in EQG (nDigital) have not been disclosed. However, EQG and Infinios are committed to regularly updating their progress and commercial growth.
About EQ Group LLC
EQG is a Dubai based ‘Social Fintech’ Group. EQG is currently developing the flaim superapp which focuses on a socially connected ecosystem to chat, share, play, buy which is enhanced by a digitally based simplification of banking, payments, the use of cryptocurrencies, NFT’s, DeFi products, which creates a link between crypto and fiat assets, supporting a marketplace offering a wide array of products and services including insurance services based on building a global footprint of users connected within a single social media superapp ecosystem.
flaim is far more than a social platform it offers a card connected to a digital wallet, as it enables the complete automation of digital and fiat assets spending. The innovative payment gateway allows users to make money transfers and direct debit payments, without the need to convert crypto into fiat manually. flaim is user-friendly and an easy-to-use app for customers of all ages, regardless of their previous experience with digital assets.
contact: [email protected]
Investor relations: [email protected]
Formed in 2014, Infinios Financial Services B.S.C(c) (previously known as NEC Payments B.S.C. The Central Bank of Bahrain (CBB), as an Ancillary Services Provider and Payment Services Provider and Card Processor, has licensed and regulated (c). Infinios developed the Infinite Financial Solutions platform, adhering to multiple security and business processes standards and working with top names in technology and Fintech. Its vision is for digital businesses to flourish and customers to prosper. The company’s mission is to facilitate the growth of digital commerce, as well as the development of superior digital services experiences by providing innovative, compliant technology solutions.
nDigital Ventures is an incubator and accelerator that collaborates with Infinios in the incubation, enablement, and acceleration of fintech and digital platform businesses from start-up through to high growth, its rapidly growing portfolio includes positions in a listed US fintech and a Middle East teenage banking start-up in addition to EQ Group. nDigital Holdings SPC is a Cayman Islands Segregated portfolio Company and the owner/controller of nDigital Ventures and Infinios.
For further information on Infinios and nDigital please contact:
Duaa Ammar, Digital Marketing Manager
+973 1720 3000
SOURCE EQ Group LLC-DWC
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