ValU, Middle East’s top Buy-Now Pay-Later (BNPL) platform, has been listed fifth on Forbes ME’s top five fintech firms.
The list is an attempt to recognize thriving firms in the region, especially those who offer a range of tech-mediated payments, remittances, borrowing, and investing solutions.
The ranking decision using a combination of criteria, including the total value of transactions processed via the different platforms in 2020, the number of downloads the number of active users, to mention a few.
In 2021, valU saw marked growth, with a record-high 229,000 new users and more than 426,000 transactions. Its remarkable portfolio also crossed the EGP1 billion mark to reach EGP1.1. Its shopping limits also rose to over EGP 2.2 billion.
ValU also sealed more partnerships, including forays into new sectors like education, medical services, sporting club memberships, and food and beverages, to mention a few.
During the year, valU also informed the public of its plan to launch “Shop’it”, an e-marketplace where customers can patronize different vendors and pay using structured and convenient installment plans.
“We are thrilled with this recognition by Forbes ME, which serves as testament to the strides we have made in growing valU to become the leading BNPL in the region,” said EFG Hermes Holding Group CEO Karim Awad.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.