Payments company Unimoni Enterprise Solutions, formerly TimesofMoney, is in a soup, from potentially misappropriated funds to questionable invoicing of a top client.
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The story of TimesofMoney is interesting, to say the least.
The digital payments processing company started about 20 years ago, under the fledgling Times Internet Ltd, the internet arm of the Times Group, one of India’s biggest media and internet groups. Over the years, TimesofMoney has offered services such as money transfers and billing and payment gateways for businesses.
In 2012, it changed hands, with the Times Group selling it to UAE-based Network International, one of the oldest payment solutions companies in the Middle East.
In 2018, it changed hands yet again, being acquired by Finablr, another UAE-based, and London-listed, payments and forex company. Finablr is perhaps better known as the financial services business of Indian-born businessman B.R. Shetty; it owns forex and remittance companies Travelex (in the UK) and UAE Exchange (in the Middle East and India).
Finablr is perhaps even better known now for an accounting scandal that has seen the
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