Vyne to Close UK Operations Post-Acquisition by Tarabut

London-based payments fintech Vyne is set to close its UK operations in April 2025, just five months after being acquired by Middle Eastern fintech company Tarabut. Initially, Vyne’s CEO, Karl MacGregor, celebrated the acquisition, highlighting the strategic benefits for the technological infrastructure and operational expansion in the UK. However, new statements indicate that the decision is part of a global strategy enacted by the new shareholders, marking a significant pivot for Tarabut’s plans. While the closure in the UK raises concerns over the fate of Vyne's more than 40 employees, there has been no direct comment on potential job losses. Vyne's Series A funding round in May 2023, which brought in $32 million, underscores its recent growth, but the strategic withdrawal suggests a focus on other international markets.