Araxi chief executive Bradley Sacks. JSE-listed fintech firm Araxi, formerly known as Capital Appreciation, has announced its shareholders voted and overwhelmingly approved its acquisition of 80% of the shares in the Pay@ Group. Araxi also said the competition authorities recently approved the transaction, which is expected to close during May. Pay@ is a payment aggregator…
Araxi CEO Bradley Sacks. JSE-listed payment solutions provider Araxi will acquire B2B payment solutions company Pay@ in a R1 billion deal, to be settled in cash. The consideration comprises R200 million from the Araxi Group’s existing cash reserves and R800 million in senior debt already committed. Forty percent of the shares of Pay@ are currently owned…
Araxi CEO Bradley Sacks. Fintech group Araxi (previously Capital Appreciation) says it has delivered resilient financial performance, growing its revenue to R653 million, amid ongoing low business confidence and sluggish economic growth. In its latest results for the six months ended 30 September, the group says two of its divisions attracted new clients and secured…
