Mubadala-backed fund acquires minority stake in London-listed Finablr – The National

Mubadala-backed fund acquires minority stake in London-listed Finablr – The National

Mubadala-backed fund acquires minority stake in London-listed Finablr. The move comes as the troubled payments firm hires an adviser to help it prepare for potential insolvency proceedings. A fund owned by Abu Dhabi's strategic investment arm Mubadala Investment Company acquired a minority stake in London-listed Finablr, as the embattled payments company hired an adviser to help assess its financial situation.. The move by Mubadala, which manages assets worth $240 billion (Dh881.5bn), to gather stake in the company comes at a difficult time for Finablr, which has now hired an adviser to prepare for potential insolvency proceedings.. The board is also is in discussions with an independent financial adviser to look into its debt and cash flow position and to support the management team in addressing its short and longer-term financing needs, the company said.. Finablr's shares have tumbled about 94 per cent this year and its market cap has shrunk to £77.2m (Dh341m), according to exchange data.. Finablr was listed on the LSE in 2019 in a deal that valued the company at $1.3bn.. Finablr has also acquired a number of companies including Indian digital payments provider TimesofMoney from Network International and digital gifting platform Swych in 2018.. The company's