Wizz Financial Gets Abu Dhabi Approval For Finablr Asset Deal

Cross-border payment firm Wizz Financial has won Abu Dhabi’s permission to acquire 100% of Xpress Money Services Ltd., a key milestone in the long-running purchase of failed rival Finablr Plc.

The emirate’s Financial Services Regulatory Authority granted change of control approval to a special purpose vehicle of Wizz, according to a statement. Wizz, which is a subsidiary of Prism Group AG, is in the “advanced stages” of obtaining similar approvals for most of the assets in other jurisdictions.

Prism and Abu Dhabi’s Royal Strategic Partners teamed up in December 2020 to buy the assets of Finablr, the London-listed payments firm ...