Public Investment Fund-backed Saudi Egyptian Investment completed the acquisirion of a $34% stake in B.TECH from Development Partners International.

Public Investment Fund-backed Saudi Egyptian Investment, completed the acquisition of a $34% stake in B.TECH, an omnichannel electronics retail company, from Development Partners International, an investment company. Financial terms were not disclosed. “Working with SEIC, B.TECH will continue to accelerate its innovative growth strategy, and its digitalization efforts, while scaling new business verticals and existing core operations. B.TECH will also invest in increasing financial inclusion efforts, supported by the growth of B.TECH’s digitally-enabled MiniCash consumer finance services, which will expand customer access to a wide range of financing solutions,” Mahmoud Khattab, B.TECH Founder and CEO.