Cairo: valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today that it has successfully signed a partnership with Heliopolis Sporting Club to offer convenient and affordable financing and payment solutions on new memberships for Heliopolis Sporting Club El Shorouk City branch as well as club services. The partnership will see valU become Heliopolis Sporting Club’s BNPL platform of choice to support it in providing seamless financing solutions. This strategic partnership is testament to valU’s commitment to delivering on its vision of becoming a holistic financing powerhouse with progressive and convenient solutions to every aspect of people’s daily lives.
Additionally, the partnership will also see valU place a “Sha2labaz” booth inside Heliopolis Sporting Club as an additional benefit to the overall service offering being provided. “Sha2labaz” is a one-of-a-kind financing program that was introduced in early 2022, which allows customers to receive cash reimbursements against any purchase they make, which they pay back on installments after selecting one of valU’s payment tenors. The amount reimbursed varies subject to the customer’s valU limit, and the program allows valU to expand its service offering to a wider audience, further highlighting the Firm’s efforts to provide instant access to finance.
“At valU, we’re constantly looking for new ways to enable and upscale the lifestyles of our customers. Sports play an integral, positive role in people’s lives, and sports clubs are an important platform that build sought-after social networks by families and communities. This successful partnership with Heliopolis Sporting Club will allow us to support the people we serve in seeking out avenues that enhance and better their day-to-day life,” said valU’s Head of Product Development, Ahmed Seoudy, “We have always prided ourselves on delivering innovative channels of financing that enrich the lives of our customers across various avenues, from education, to retail, travel, hospitality, real estate, and entertainment, to achieve our goal of improving people’s overall quality of living.”
Also commenting on the partnership is Heliopolis Sporting Club’s Chairman, Amr El Sonbaty. “I am especially excited about this strategic partnership with valU, which will increase the club’s cash flows, support investments in services and amenities, and deliver a better experience to current and new members.”
valU’s partnership with Heliopolis Sporting Club marks the company’s second partnership with a leading sports club in Egypt and has also allowed valU to maintain its series of strategic plays that have seen valU increasingly become the BNPL platform of choice that caters to a myriad of customer segments. Most recently, valU acquired Paynas, an innovative employee management platform, through which it serves a diverse range of employees and small enterprises.
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About valU
A subsidiary of EFG Hermes Holding established in 2017, valU is the leading Buy-Now, Pay-Later (BNPL) lifestyle enabling fintech platform offering convenient and customizable financing plans up to 60 months. With more than 5,000 points of sale and over 330 websites, valU offers access to a wide network of retail and e-commerce providers across a diverse array of categories including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. As the first platform of its kind in the MENA region, valU customers can receive instant credit decisions through their devices and gain access to the ever-growing platform’s partners.
For further information, please contact:
The EFG Hermes Holding Public Relations Team
PublicRelations@efg-hermes.com
May El Gammal
Group Chief Marketing & Communications Officer of EFG Hermes Holding
melgammal@efg-hermes.com
Note on Forward-Looking Statements
In this press release, EFG Hermes Holding 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 Holding’s 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.
