Kathmandu, August 14–Citytech, a fintech startup in the Kathmandu Valley, has moved forward the legal process to acquire D’Rose Technologies. The latter is a company providing Branchless Banking (BLB) solutions in Nepal with over twenty commercial banks as its existing customers
The acquisition deal was formalized at an event held today in the capital in which the MoU was signed between Mr. Sajan Sharma, CEO and MD of Citytech and Mr. Nepal Bhushan Gauli, Executive Director of D’Rose Technologies, according to a press statement issued by Citytech.
‘Over the next few weeks, the legal and administrative side of the acquisition process will be completed,” reads the statement. The synergies to be creates after the completion of such process is expected to help Citytech grow rapidly in the country’s financial technology market.