KEO World Inc. announces Business Combination of its Global Trade Card (GTC) program with MAHA Capital

MIAMI & STOCKHOLM--(BUSINESS WIRE)--KEO World Inc., a lending fintech infrastructure platform for embedded credit B2B payments, today officially entered into a binding agreement to combine its GTC business with MAHA Capital AB, a publicly listed investment company on Nasdaq Stockholm. This transaction is designed to significantly strengthen our financial foundation and accelerate our global expansion.

MAHA brings over USD 120 million in cash and liquid assets, while Keo investors will contribute an additional USD 35 million. Together, the combined company will have approximately USD 155 million of equity to deploy into the GTC program. As part of its growth strategy, the combined entity also intends to pursue a dual listing on Nasdaq in the United States, broadening investor access, enhancing liquidity, and positioning our company on the global stage.

Under the agreement, Keo will transfer its GTC operations, including its SPV and Keo Puerto Rico LLC, which holds our Amex issuing license, to MAHA. Once completed, and subject to performance milestones, Keo will become the majority shareholder of the combined entity. Our founder, Paolo Fidanza, will be proposed to serve as Chairman, and Keo will nominate directors, subject to regulatory and company approvals.

The GTC program, launched in 2022, helps multinational and offshore companies efficiently manage U.S. dollar expenses such as travel and lodging, while delivering FX efficiencies and centralized financial control. With MAHA’s resources and infrastructure, we aim to expand these solutions across Latin America, the Caribbean, and Canada, with capacity to support multi-billion-dollar transaction volumes annually.

Looking forward, the combined entity plans to pursue up to USD 400 million of low-cost leverage, expand its technology offering with AI-driven tools, and enhance the client portfolio.

Finally, in line with our founders’ vision, we will work with MAHA to establish a program to dedicate part of the profits to altruistic initiatives, ensuring that our growth benefits not only our shareholders but also the communities we touch.

KEO and MAHA Capital: Driving the Next Phase of Growth.

About KEO World

Founded in 2020, KEO World is a leading innovator in technology-based financial solutions with a mission to provide businesses with digital, seamless, and secure ways to finance their supplies and increase efficiency in their cash flow. KEO is headquartered in Miami, Florida, with operations in the US, Canada, Mexico, and throughout Latin America. The company was the first non-bank financial institution to receive an American Express issuing license.

To learn more, visit www.KEOWorld.com.