Saudi Unicorn Looks Beyond Kingdom After Western Union Deal
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Saudi Arabian digital payments firm stc pay, which was valued at $1.3 billion in a funding agreement with Western Union this month, is set to become profitable “very soon” and is in talks with regulators to expand into neighboring countries.
The company, launched by the kingdom’s biggest mobile operator Saudi Telecom Co. in late 2018, wants to offer digital payments across the six-nation Gulf Cooperation Council, Chief Executive Officer Ahmed Alenazi said in an interview.