Mitgo Group acquires UAE-based finance platform Embedded
In an ambitious stride towards dominating the fintech landscape within the affiliate marketing sector, Mitgo Group has officially announced its acquisition of the UAE-based finance platform, Embedded. This marks a significant milestone for the company as it ventures into financial services, aiming to reshape the way affiliate publishers manage their finances.
The Vision Behind the Acquisition
With affiliate marketing spend soaring to an estimated $14.4 billion in 2023 and expected to exceed $15.7 billion in the current year, Mitgo Group has set its sights on capturing over 7% of this market’s transaction volume in the next three years. This translates to a $1.5 billion, reflecting the sector’s rapid growth. Embedded, renowned for its comprehensive experience in fintech, is poised to be the cornerstone of Mitgo’s foray into this new territory, enhancing its technological capabilities and market reach.
Revolutionizing Publisher Earnings and Financial Accessibility
The acquisition of Embedded will introduce a suite of embedded finance solutions designed to empower millions of publishers worldwide. Mitgo’s innovative approach will drastically shorten the earnings withdrawal timeframe from the standard 60-120 days to immediate access, a game-changer for publishers, especially those in underbanked regions such as APAC, MENA, and LATAM. Additionally, publishers will benefit from access to loans, reduced transaction and exchange fees, and enhanced transaction speeds, among other advantages.
A New Era for Financial Services in Affiliate Marketing
Mitgo Group brings to the table 15 years of invaluable experience in affiliate marketing, working with over 100,000 active partners. Leveraging AI and machine learning algorithms, Mitgo is uniquely positioned to offer low-risk, profitable loan portfolios, addressing the financial service needs of publishers, predominantly small and medium-sized businesses (SMBs), who have traditionally faced challenges in securing credit from conventional financial institutions.
Expanding the Financial Industry’s Horizon
Embedded finance solutions hold the promise of opening new markets and customer segments for leading financial entities, including major banks, payment systems, and e-wallets. This strategic move by Mitgo Group not only diversifies the financial services landscape but also fosters collaborations with the world’s largest fintech organizations, unlocking untapped potentials and billions in transaction values.
Leadership in Charge
At the forefront of this revolutionary venture will be Oleg Chanchikov, the Founder and CEO of Embedded, who will join Mitgo following the acquisition. With over two decades of expertise in IT and finance, Chanchikov’s leadership is expected to drive significant advancements in the MarTech industry’s utilization of financial products, potentially redefining the sector as a whole.
Mitgo Group’s acquisition of Embedded signifies more than just a business expansion; it heralds a paradigm shift in how financial services are integrated within affiliate marketing. By bridging the gap between financial institutions and publishers, Mitgo is set to introduce groundbreaking solutions that will not only enhance the MarTech industry but also contribute significantly to the global financial ecosystem’s inclusivity and innovation.
