ADVA, Egypt’s first online service installment platform, has announced the debut of its premium programs, which allow users to access cash worth up to EGP one million.
The programs, which serve around 85 percent of the target audience, offer a variety of services to customers, topped by healthcare, education, and finishing with the installment function.
“ADVA is unusual in that it permits lending to a broad segment of society, including — but not limited to — people who earn basic and supplementary incomes, pensioners, and self-employed individuals, by financing their basic requirements in a way that helps improve the quality of their lives. Through cash management, we assist consumers preserve financial stability
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“DVA CEO Rania Gaafar stated. “We take ourselves on giving core service installments to about 50% of our customers in less than 30 minutes.”
Gaafar expected ADVA’s business volume in 2021 to be EGP 100 million. “For this year, we expect it to be four times more than it was last year,” she explained. “Through our wide network of premium service providers and cutting-edge technology approaches, we help customers obtain the cash they require in a quick and straightforward manner.”
Meanwhile, Ahmed El-Alfi, Founder and Chairman of Sawari Ventures, stated that “Sawari Ventures primarily focuses on financing firms that have already begun and demonstrated success, while seeking more capital to expand their scope of operation,” he said. “We invested a six-figure sum in US dollars in ADVA as a seed fund, seeing it as a potential prospect for collaboration between entrepreneurs and major financial institutions. As a key component of the government’s plan for digital transformation and financial inclusion, this will result in a significant leap in fintech.”
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To meet the needs of its customers, ADVA focuses on expanding its portfolio through a new package of installment services that includes wedding parties, car maintenance, insurance, and travel.
ADVA service platform ADVA service platform
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.
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