Ooredoo
“Can a MENA telecom operator convert its 100M+ subscriber base into a regional digital financial services platform through OFTI, competing with neobanks and mobile wallets across Qatar, Oman, Maldives, and beyond?”
Ooredoo started as a regional telecom operator across MENA, Middle East, and Southeast Asia. It built mobile money and digital wallet capabilities starting around 2012 as an adjunct to its core telco business. In 2023, Ooredoo formalized its embedded finance ambitions by spinning out Ooredoo Financial Technology International (OFTI) as a standalone fintech entity, targeting a $200–400M valuation by expanding payment licenses across Iraq, Oman, Kuwait, and Tunisia. The company is now executing a 'Smart Telco' strategy, embedding financial services — cards, wallets, BNPL, insurance, and cross-border payments — into its existing telecom subscriber base across multiple MENA markets.