valU receives Gulf Business Tech Awards 2021

Supplied photo
Supplied photo

Dubai - The Egyptian fintech ecosystem has over 170,000 users registered on the app and more than 500,000 transactions in excess of EGP 2 billion since inception.



by

A Staff Reporter

Published: Mon 25 Oct 2021, 9:49 PM

Last updated: Mon 25 Oct 2021, 9:51 PM

valU, Mena’s leading buy-now pay-later (BNPL) fintech platform, has been recognised as the fintech company of the year at the first Gulf Business Tech Awards 2021 during a ceremony hosted at the Dubai World Trade Centre during Gitex Technology Week.

The judging panel included industry experts from GCC organisations including Dr. Lt. Hamad Khalifa Al Nuaimi, head of Telecommunications Division, ICT Centre, Abu Dhabi Police HQ and Dr. Jassim Haji, president, Artificial Intelligence Society, Bahrain along with the Gulf Business technology team, all of whom were present at the ceremony.

“We are proud to be recognised as the leading fintech firm by Gulf Business at their first Gulf Business Tech Awards 2021 and to be among other industry leaders once again. Coming on the heels of our recent win at Entrepreneur Middle East’s Tech Innovation Awards 2021, valU continues to go from strength to strength reflecting the outstanding efforts made by the team to consistently deliver on our promise of ground-breaking BNPL fintech solutions and our commitment to empowering consumers to attain their desired lifestyles, as well as improving sales volumes for retailers and service providers which as a result supports the drive for financial inclusion in the respective economies,” said Walid Hassouna, CEO of the NBFI platform at EFG Hermes and CEO of valU.

valU was recognised for its record of innovative service provision and lasting contributions to the Egyptian fintech ecosystem, with over 170,000 users now registered on the app and more than 500,000 transactions in excess of EGP 2 billion since inception.

More recently, valU made great strides in expanding its customer base and market presence, boasting partnerships with key retailers including Al Futtaim Group, Marakez, AZADEA, and Ikea.

valU also worked to diversify its service network, having recently grown into new segments such as healthcare, education, and sports club financing. In May 2021, valU launched the “valU Family” programme qualifying clients’ first-degree relatives over the age of 16 to acquire a borrowing limit for the first time in the Egyptian market. Additionally, in September 2021, valU launched “valU Ma3ak” a youth financing programme targeting university undergraduates aging between 18-21 years. — business@khaleejtimes.com


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