Tarabut Acquires UK-based Vyne
Vyne’s technology will be integrated into Tarabut’s operations, starting with Bahrain by the end of the year.
Tarabut, a regulated open banking platform in the MENA region, has acquired Vyne, a London-based real-time account-to-account (A2A) payments platform. The deal, which closed on August 1st, has received approval from both the Saudi Central Bank (SAMA) and the UK's Financial Conduct Authority (FCA).[1]
This acquisition enhances Tarabut’s capacity to offer faster and more accessible financial services across the MENA region and globally. Vyne’s technology will be integrated into Tarabut’s operations, starting with Bahrain by the end of the year and expanding to Saudi Arabia and the UAE.
Founded in 2019, Vyne enables customers to make real-time payments directly from their bank accounts. This technology will now be made available to businesses in the Middle East.
This acquisition is part of Tarabut’s strategy to expand its presence in the MENA region, following its $32 million Series A investment round in May 2023 and recent partnerships with banks across Bahrain, Saudi Arabia, and the UAE.