The partnership will offer valU merchants immediate access to financing through Corp-Solutions’ premier financing solutions, allowing them to increase their working capital and meet their business goals.

EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM), announced today the launch of a new program between its NBFI subsidiaries valU, a leading technology solutions provider, and EFG Hermes Corp-Solutions, the Firm’s factoring and leasing arm. The collaboration will provide valU merchants with immediate access to factoring services, affording them opportunities to increase their liquidity, grow their business, and meet their strategic objectives.

The partnership is available to merchants who have worked with valU for over one year, offering eligible partners immediate access to liquidity with a pre-approved limit ranging from EGP 50,000 to EGP 10 million. The company will utilize credit profiles for the merchants calculated by valU’s artificial intelligence modules and algorithms to set the limits and provide approvals in a single day.

“We are extremely proud to announce this new partnership, which marks an important stride in enhancing our operational synergies at the group level while promoting cross-selling and growth opportunities across our NBFI platform,” said EFG Hermes Finance CEO Walid Hassouna. “The venture will allow us to integrate our capabilities across both firms to avail value-adding services to valU’s merchant network through offering them holistic solutions that meet their business needs.”

Through the collaboration, valU will be able to offer an unmatched service level to its partners, providing them with immediate access to premium financial services to expand their operations. Corp-Solutions will leverage valU’s fintech capabilities to automatically generate pre-approved limits through its AI-based scoring and underwriting process, broaden its product portfolio, and expand into mass market financing solutions. 

“The partnership only serves to underscore valU’s unwavering commitment to offer our partners unlimited support and opportunities to grow their businesses just as we have done for the clients we serve every day,” said valU CEO Mohamed El-Feky. “With the current challenges plaguing the market due to the pandemic, there is no better time than now to tap into the resources we have as an integrated financing platform and capitalize on the synergies inherent in the NBFI platform’s business model.”

EFG Hermes launched its NBFI platform EFG Hermes Finance in 2015 to oversee the Group’s activities in the non-bank financing fields. The platform consists of valU for instalment sale services, which was established in 2017; EFG Hermes Corp-Solutions, which was established in 2020 to consolidate the Firm’s factoring and leasing arms; and Tanmeyah Microfinance, which was acquired by the Firm in 2016. In 2020, the Firm also added payment solutions provider PayTabs Egypt to its NBFI roster. The platform seeks to continue to diversify its product and service offering in order to provide the market with a comprehensive range of non-bank financing solutions.

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About EFG Hermes

With a current footprint spanning thirteen countries across four continents, EFG Hermes started in Egypt and has grown over 35 years of success to become a leading financial services corporation with access to emerging and frontier markets. Drawing on our proven track-record and a team of more than 5,500 talented employees, we provide a wide spectrum of financial services that include investment banking, asset management, securities brokerage, research and private equity to the entire MENA region. 

In 2015, EFG Hermes launched the NBFI Platform, EFG Hermes Finance, which overlooks activities in the non-banking finance field covering microfinance, leasing, factoring, consumer finance, mortgage and insurance. This falls in line with the Firm’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which has seen the Firm establish a physical presence in Pakistan, Bangladesh, Vietnam, Kenya, Nigeria, the United Kingdom and the United States.

For further information, please contact: 

EFG Hermes Media

media@efg-hermes.com

May El Gammal

Group Head of Marketing & Communications 

melgammal@efg-hermes.com

Note on Forward-Looking Statements

In this press release, EFG Hermes may make forward looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes’ belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management’s control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.