valU Consumer Finance (valU), a wholly owned subsidiary of EFG Hermes Holding, has entered into a deal with Amazon to provide consumer financing as a payment method on amazon.eg (Commercial Agreement).
Some of valU’s consumer finance products will be made available to qualifying customers on amazon.eg, giving these customers the option to split the entire cost of purchases into many installments using valU.
EFG Hermes and Amazon entered into an option agreement in which Amazon agreed to purchase $10 million in EFG Hermes GDRs with the option to replace that investment in valU at a later date, resulting in a stake of 4.255 percent of valU’s issued share capital based on a current post-money valuation of $235 million.
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Based on the terms and conditions of the transaction agreement, the option will be exercisable prior to or upon the occurrence of a qualified liquidity event at the level of valU, in the form of an independent investment involving third party investors, a sale, or an initial public offering or another listing event.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh