Bankero | Financial News > Main News > UAE-based Astra Tech acquires majority stake in Filipino online lender Y Finance Inc.

UAE-based Astra Tech acquires majority stake in Filipino online lender Y Finance Inc.

UAE-based tech company, ASTRA Tech LLC (Astra), has acquired a 90% stake in a local Filipino online lender, Y Finance Inc., to expand its presence in the Philippines’ financial service market.

The acquisition aims to enhance seamless transactions on Astra’s communication platform, Botim, and cater to the large Filipino expat community in the UAE.

Astra’s strategic move seeks to offer innovative financial services and improve the financial well-being of Filipinos residing in the UAE and the Philippines.

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