Egyptian Fintech Services Provider valU Will Expand to Jordan in 2024
This move follows valU's acquisition of Paynas, a company providing financial services to micro to medium enterprises in Egypt.
Cairo-based fintech services provider valU has announced its plans to expand into Jordan in early 2024. Owned by EFG Hermes, valU specialises in financing solutions and e-payment services across various sectors such as healthcare, education, and consumer goods.
valU's decision to enter the Jordanian market comes as part of its broader strategy to expand into new markets. The company is currently in the process of applying for a licence from the Central Bank of Jordan, demonstrating its commitment to operating within the regulatory framework.
“We are confident in our ability to deliver unparalleled value and reshape the financial technology landscape in Jordan,” Walid Hassouna, CEO of valU, tells StartupScene.
This expansion follows valU's recent acquisition of Paynas, a company providing financial services to micro, small, and medium enterprises in Egypt. Additionally, valU acquired a 35% stake in FAS Finance, the consumer finance arm of FAS Labs in Saudi Arabia, as part of its strategic plan to extend its presence across the Middle East and Africa.
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