Mitgo Group acquires UAE finance platform Embedded

Mitgo Group acquires UAE finance platform Embedded

Germany-based marketing technology provider (martech) Mitgo Group has acquired the UAE-based embedded finance platform “Embedded” for undisclosed value.

Founded in 2023 by Oleg Chanchikov, Embedded offers embedded financial services, which will augment Mitgo Group services, which was founded in 2022 by Alexander Bachmann.

The new acquisition will allow Mitgo Group to offer embedded finance solutions to its clients in the affiliate market.

Press release:

MarTech giant Mitgo Group is launching a new cutting-edge business division - fintech services for affiliate publishers. According to conservative estimates, affiliate marketing spending reached $14.4 billion in 2023 and will exceed $15.7 billion this year. In the next three years, Mitgo plans to become a conduit for more than 7% of that transaction volume, which can be valued at more than $1.5 billion given the sector's growth. The first step in this direction is the acquisition of UAE-based embedded finance platform Embedded, whose team has extensive experience in fintech and will complement Mitgo's technology stack needed to enter a new market.

The new division will include a set of solutions from the field of embedded finance. It will allow millions of publishers across the globe, with a specific focus on currently underbanked audiences in the MENA, APAC, and LATAM regions,