Transaction Summary
Catayst Partners Middle East (CPME), a Special Purpose Acquisition Company (SPAC) established by Egypt-based impact investment advisory firm, Catalyst Partners, has acquired Qardy, a private digital lending platform headquartered in Egypt. Founded in 2022, Qardy operates as an online aggregator marketplace, connecting micro, small, and medium-sized enterprises (MSMEs) with financial institutions to provide loan and supply chain financing. It has rapidly grown, serving over 1,000 corporate clients and facilitating more than $19 million in loan transactions. The acquisition was completed through a full share swap, with CPME issuing 3.9 new shares for every Qardy share, making Qardy Egypt’s first fintech to go public via a SPAC merger. This deal was enabled by CPME’s recent capital increase to EGP 14 billion ($447 million), approved by the Egyptian Financial Regulatory Authority (FRA) to support CPME’s plan to acquire multiple fintechs and non-bank financial services firms. While the full share swap changes ownership,
