Ann: IOUpay Acquires 42% of I-Destinasi Malaysian Finance Company, page-257

But can you explain why? I’m asking genuinely because for $40m I just don’t see it:
- 40% stake in a company with only 37,000 current customers and since been in business since 1981 presumably not much growth
- bought profitability from another company - ie can’t take credit for being a profitable company ourselves, since the profit component is generated by another entity
- 10 year credit products move us away from BNPL and more toward banking
- imminent cap raise likely to fund second half of deal when before almost nil cap raise risk
- potential further cap raise required to fund operational growth to international territories, when before could have come from $50m