Maha Completes $220.8M Merger with KEO World for Embedded Finance

Maha completed its merger with KEO World Inc. and its subsidiaries at the start of Q2 2026, with total purchase consideration of USD 220.8 million. The company raised USD 27 million alongside the deal at SEK 16 per share. Through the acquisition, Maha now operates a fintech and credit platform with licenses and infrastructure spanning Mexico, Brazil, Canada, and broader Latin America.

Nasdaq Stockholm granted formal approval for Maha's continued admission to trading after the merger closed. At the end of Mar 2026, approved credit line volumes for KEO amounted to roughly USD 62 million, with an average quarterly yield of 4.8% and an annual yield of 19%. During Q1 2026, Maha Capital AB provided bridge financing to KEO subsidiaries totaling USD 7.1 million in principal and USD 1.5 million in accrued interest.

The board has instructed management to assess a separation of Maha's oil and gas business from its fintech operations.