UAE telecom group e&, formerly known as Etisalat, has announced an investment in US-based payments security company MagicCube.
Via its investment arm, e& capital, the group joined the second tranche of a $10M funding round for the California-headquartered firm, which is aiming to accelerate its global scaling strategy.
MagicCube focuses on delivering sovereign-grade security for payments, digital identity, and AI-powered services without the need for hardware or physical chips. Its software-led platform protects sensitive data across multiple environments, including smartphones, tablets, IoT devices, and self-checkout systems.
The newly secured funding will be directed towards international expansion, with a strong focus on high-growth regions such as the GCC.
