MarTech giant Mitgo Group is launching a new cutting-edge business division – fintech services for affiliate
Mitgo Group, a leading MarTech company, is expanding its business into fintech services aimed at affiliate publishers. With affiliate marketing expenditures hitting $14.4 billion in 2023 and projected to rise to over $15.7 billion this year, Mitgo aims to facilitate over 7% of this transaction volume in the next three years, which could exceed $1.5 billion given the industry’s growth. This ambitious move begins with Mitgo’s acquisition of Embedded, a UAE-based company specializing in embedded finance, to enhance Mitgo’s entry into this new sector with the necessary technological support.
The newly launched division will offer embedded finance solutions that enable publishers worldwide, especially those in underbanked regions like MENA, APAC, and LATAM, to access their earnings immediately, bypassing the standard 60-120 day wait. This initiative will also provide publishers with loans, lower transaction and exchange fees, speed up transactions, among other benefits. Mitgo Group has previously piloted similar financial solutions successfully within its own businesses.
A key benefit for publishers will be easier access to loans and financing, addressing the challenge many face in securing credit from traditional financial institutions due to a lack of understanding of their business model. This issue has made financial products less accessible to publishers, who are often small to medium businesses.
With 15 years of experience in affiliate marketing and partnerships with over 100,000 active partners, along with sophisticated AI and machine learning algorithms, Mitgo Group is well-positioned to evaluate borrowers accurately, resulting in a low-risk and profitable loan portfolio.
These embedded finance solutions also offer significant opportunities for major banks, payment systems, e-wallets, and other financial leaders to broaden their customer base and introduce niche products in markets and regions previously deemed too risky or costly.
Mitgo Group’s new venture aims to be a bridge to the vast affiliate marketing world for major fintech organizations, establishing partnerships with global payment schemes and leading financial institutions. The company’s expertise will unlock new potentials, including access to millions of users and tens of billions in transaction volumes that were previously overlooked by the financial sector.
Alexander Bachmann, the founder and CEO of Mitgo Group, highlighted the benefits for future financial industry partners, offering them a unique platform to explore new markets and distribute financial products to a wide range of publishers, including cashback services, media buyers, loyalty programs, and BNPL services.
The fintech initiative will be spearheaded by Oleg Chanchikov, CEO and founder of Embedded, who brings over 20 years of experience in IT and finance, including senior roles at Visa and other key financial and IT firms.
Chanchikov emphasized the broader impact of embedded finance solutions on market growth, enabling a bottom-up approach where industries themselves utilize financial products to address their core needs and challenges. He expressed confidence that the collaboration with Mitgo Group would not only transform the MarTech industry’s use of financial products but also introduce innovative solutions that could revolutionize the market.
