ValU, the prominent financial technology company headquartered in Egypt, has recently announced a comprehensive strategic change that encompasses rebranding and a shift in competitive positioning. This transformation underscores ValU’s evolution from being one of the largest providers of buy-now-pay-later (BNPL) solutions to becoming a versatile financial services technology enterprise. The rebranding serves as a pivotal step in ValU’s journey towards expansion and diversification of its product and service offerings, aiming to fortify its presence in the dynamic realm of financial services technology.
Evolution and Expansion
Since its inception, ValU has consistently upheld its position as a frontrunner in delivering innovative financial solutions that align with the changing preferences of its customers. Recognizing the continual advancements within the financial services technology sector, ValU remains dedicated to enhancing its technological infrastructure to provide an optimized user experience. This commitment is reflected in the modern and attractive design of its updated electronic application, which now comprehensively showcases all its offerings.
Under this strategic transition, ValU has absorbed Bynas products and services, amalgamating them under its own brand. Business-to-business (B2B) services are now provided under the ‘Value Business’ banner. The newly introduced ValU brand encapsulates values such as responsibility, innovation, agility, and a steadfast commitment to superior customer service. This rebranding encapsulates ValU’s transformation, bolstering its standing in the Egyptian market as the foremost institution in the financial services technology sector.
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Diversified Portfolio
Walid Hassouna, the CEO of ValU, underscores the company’s journey since its launch in late 2017, emphasizing its impactful role in the financial services technology sector. ValU’s scope of operations has expanded beyond consumer financing services to encompass an array of offerings including cash-back services, savings solutions, investment products, an employee management services platform, and more. This strategic rebranding aligns with ValU’s portfolio diversity and its status as a specialized leader in financial services technology.
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New Brands and Platforms
The revamped ValU brand umbrella encompasses several platforms and programs, each catering to distinct financial needs:
- ‘U’ Brand: ValU’s BNPL services are now consolidated under the ‘U’ brand. This includes financing plans and programs extending up to 60 months. Specific programs under this brand include:
- “Shaqlbaz”: An instant cashback program for customers.
- “Ma3ak”: Catering to undergraduate students aged 18 to 23.
- “Family”: Extending consumer financing services to first-degree relatives over the age of 16.
- “Alter”: A luxury shopping financing program enabling payments for high-value products.
- “Business” Platform: This platform caters to companies (B2B) by providing solutions in human resources services. It includes salary and benefits transfer cards, along with various other financial services. This platform was acquired by ValU in 2022 and was previously known as “PayNas.”
- “Akeed”: A novel savings product that allows individuals to save while also enjoying returns for future shopping.
- “Flip”: A product facilitating instant money transfers and serving as a popular gift card solution in Egypt.
- “Invest”: An investment platform providing flexible and competitive investment solutions. It includes the AZ ValU investment fund launched in collaboration with the “Azimut” group and the EFG Hermes ONE application, a prominent electronic platform for securities trading.
Acquisition Streak
ValU’s trajectory includes a series of strategic acquisitions that bolster its market presence and offerings:
- Paynas: In 2022, ValU fully acquired Paynas, an online platform specializing in employee management services and offering a range of financial services to small, medium, and micro companies. Paynas has been rebranded as ValU.
- Qiwi: ValU acquired a minority stake in Qiwi, a fintech startup responsible for developing the first social payment app for youth in Egypt.
- PayTabs Egypt: ValU secured an indirect 2% stake in PayTabs Egypt, strengthening its position within the fintech ecosystem.
- Hoods Platform: ValU acquired a minority stake in the Hoods platform, which specializes in e-commerce within the Middle East and North Africa region.
- EFG EV Fintech: ValU holds a 10% stake in EFG EV Fintech, which serves as the accelerator and incubator for the EFG Holdings Group.
Expanding Footprint
ValU’s expansion is reflected in its impressive metrics:
- Over 3 million transactions completed.
- A merchant network exceeding 5,500 across 1,500 e-commerce platforms.
- More than 1 million active app customers.
- Gross merchandise value increased twofold to 5.8 billion Egyptian pounds by the end of 2022, compared to 2.4 billion pounds in 2021.
ValU’s journey is marked by its commitment to innovation, customer-centricity, and a strategic approach to acquisitions. Its rebranding underscores its evolution into a versatile financial services technology organization, poised to cater to a wide spectrum of financial needs across the Middle East and North Africa region.
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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