Basata Strategic Investment in Jordan Fintech
Egypt-based fintech Basata has increased its stake in MadfoatCom, leading digital payment provider in Jordan, to 25%, reinforcing its commitment to financial inclusion and the expansion of digital payment infrastructure across the region.
The move, executed in partnership with Jordan Kuwait Bank (JKB), the Social Security Investment Fund (SSIF), and other leading banks, marks a significant step toward strengthening Jordan’s fintech ecosystem. With this transaction, banks now collectively own over 50% of MadfoatCom, ensuring continued growth and innovation in the country’s financial landscape.
Strengthening Jordan’s Digital Economy
Founded in 2009, Basata (formerly Ebtikar) has been a pioneer in bill payments, mobile money, and supply chain solutions. Meanwhile, MadfoatCom, founded in 2011 by Nasser Saleh, has established itself as a leader in real-time bill presentment and payment services.
With this increased stake, Basata aims to:
- Enhance accessibility and efficiency of digital payments
- Expand mobile transactions and money transfers
- Support SMEs with advanced financial tools
“Our strategic stake in MadfoatCom, in partnership with Jordan’s top financial institutions, is a pivotal step in our regional expansion,” says Aladdin Saba, Chairman of Basata. “This collaboration will drive financial innovation and create a more inclusive digital economy in Jordan and beyond.”
Basata-Madfoat partnership is a milestone for Fintech in Jordan
The investment was officially announced at the Central Bank of Jordan, attended by key financial stakeholders. The transaction was structured by Anniston Capital Inc. and Imara Asset Management, with Al Tamimi & Company in Jordan serving as legal counsel.
“This partnership marks a major milestone for Jordan’s fintech sector,” says Nasser Saleh, Founder & Executive Chairman of MadfoatCom. “Together, we will expand our service offerings and strengthen our leadership in digital payments.”
As Basata deepens its presence in Jordan, the collaboration will focus on redefining financial services. Along with that, it will also help in accelerating digital transformation, and driving fintech innovation across the region.
What’s Next?
With this investment, Basata and MadfoatCom plan to:
- Expand digital payment solutions for businesses and consumers
- Integrate cutting-edge fintech innovations
- Strengthen SME financial tools for economic growth
This acquisition isn’t just about increasing market share—it’s about reshaping financial access in the MENA region. As Jordan embraces fintech-driven transformation, Basata’s expanded role in MadfoatCom signals a new era of digital financial inclusion.
