{"id":184780,"date":"2021-10-24T19:34:14","date_gmt":"2021-10-24T17:34:14","guid":{"rendered":"https:\/\/www.arabtelegraph.com\/?p=184780"},"modified":"2024-11-28T23:15:51","modified_gmt":"2024-11-28T21:15:51","slug":"valu-the-leading-buy-now-pay-later-bnpl-fintech-platform-wins-the-fintech-company-of-the-year-category-at-the-inaugural-gulf-business-tech-awards-2021","status":"publish","type":"post","link":"https:\/\/www.arabtelegraph.com\/?p=184780","title":{"rendered":"valU, the Leading Buy-Now Pay-Later (BNPL) Fintech Platform, Wins the Fintech Company of the Year Category at the Inaugural Gulf Business Tech Awards 2021"},"content":{"rendered":"\n<p dir=\"ltr\"><em><strong>The award celebrates valU\u2019s innovation in the MENA fintech space and its commitment to continually serving clients through the delivery of best-in-class services and solutions<\/strong><\/em><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2021\/10\/28189b61-8359-42c2-984e-ac9d6f87b47b-1024x441.jpg\" alt=\"\" class=\"wp-image-184782\" width=\"228\" height=\"97\" srcset=\"https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2021\/10\/28189b61-8359-42c2-984e-ac9d6f87b47b-1024x441.jpg 1024w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2021\/10\/28189b61-8359-42c2-984e-ac9d6f87b47b-300x129.jpg 300w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2021\/10\/28189b61-8359-42c2-984e-ac9d6f87b47b-768x331.jpg 768w, https:\/\/www.arabtelegraph.com\/wp-content\/uploads\/2021\/10\/28189b61-8359-42c2-984e-ac9d6f87b47b.jpg 1280w\" sizes=\"(max-width: 228px) 100vw, 228px\" \/><\/figure><\/div>\n\n\n\n<p dir=\"ltr\">valU, MENA\u2019s leading buy-now pay-later (BNPL) fintech platform, is honored to have been recognized as the Fintech Company of the Year at the first <strong>Gulf Business Tech Awards 2021<\/strong> during a ceremony hosted at the Dubai World Trade Centre on the 20<sup>th<\/sup> of October held during Gitex Technology Week. The judging panel included industry experts from esteemed GCC organisations including Dr. Lt. Hamad Khalifa Al Nuaimi, Head of Telecommunications Division, ICT Centre, Abu Dhabi Police HQ and Dr. Jassim Haji, President, Artificial Intelligence Society, Bahrain along with the Gulf Business technology team, all of whom were present at the ceremony.<\/p>\n\n\n\n<p dir=\"ltr\">\u201cWe are proud to be recognized as the leading fintech firm by Gulf Business at their first Gulf Business Tech Awards 2021 and to be among other industry leaders once again. Coming on the heels of our recent win at Entrepreneur Middle East\u2019s Tech Innovation Awards 2021, valU continues to go from strength to strength reflecting the outstanding efforts made by the team to consistently deliver on our promise of ground-breaking BNPL fintech solutions and our commitment to empowering consumers to attain their desired lifestyles, as well as improving sales volumes for retailers and service providers which as a result supports the drive for financial inclusion in the respective economies,\u201d commented <strong>Walid Hassouna, CEO of the NBFI platform at EFG Hermes and CEO of valU<\/strong>.<\/p>\n\n\n\n<p dir=\"ltr\">valU was recognized for its illustrious record of innovative service provision and lasting contributions to the Egyptian fintech ecosystem, with over 170,000 users now registered on the app and more than 500,000 transactions in excess of EGP 2 billion since inception. More recently, valU made great strides in expanding its customer base and market presence, boasting partnerships with key retailers including Al Futtaim Group, Marakez, AZADEA, and IKEA. valU also worked to diversify its service network, having recently grown into new segments such as healthcare, education, and sports club financing. In May 2021, valU launched the \u201cvalU Family\u201d program qualifying clients\u2019 first-degree relatives over the age of 16 to acquire a borrowing limit for the first time in the Egyptian market. Additionally, in September 2021, valU launched \u201cvalU Ma3ak\u201d a youth financing program targeting university undergraduates aging between 18-21 years.<\/p>\n\n\n\n<p dir=\"ltr\"><strong>Ian Fairservice, Managing Partner and Group Editor-in-Chief of Motivate Media Group<\/strong>, said: \u201cPrivileged to be launching the first edition of the GB Tech Awards where we honor the innovators, out-of-the-box thinkers and builders of the region\u2019s tech future. Technology has become an even bigger focus now, thanks to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who has championed the cause in a country which is celebrating its 50<sup>th<\/sup> anniversary this year. We extend our congratulations to each of the winners.\u201d<\/p>\n\n\n\n<p dir=\"ltr\">valU\u2019s portfolio has continued to expand, breaking the EGP 1 billion mark to hit EGP 1.1 billion in 2Q21. The company remains on an upward trajectory having achieved great success across metrics of customer-base growth, number of merchants and number of transactions among others, with downloads growing over twofold in the same quarter.<\/p>\n\n\n\n<p dir=\"ltr\">The company was recently ranked 5<sup>th<\/sup> by Forbes Middle East on the list of the Top 15 fintech apps in the MENA region for 2021. valU was also named as the \u201cBest Buy-Now Pay-Later\u201d platform at Entrepreneur Middle East\u2019s Leaders in Fintech Awards in 2021.<\/p>\n\n\n\n<p dir=\"ltr\">-ENDS &#8211;<\/p>\n\n\n\n<p dir=\"ltr\"><strong><u>About valU<\/u><\/strong><\/p>\n\n\n\n<p dir=\"ltr\">A subsidiary of EFG Hermes established in 2017, valU is the leading Buy-Now Pay-Later (BNPL) fintech platform offering convenient and customizable financing plans up to 60 months. With more than 5,000 points of sale and over 250 websites, valU offers access to a wide network of retail and e-commerce providers and service 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 BNPL platform of its kind in the MENA region, valU customers are able to receive instant credit decisions through their mobile devices and gain access to the ever-growing platform\u2019s network of partners.<\/p>\n\n\n\n<p dir=\"ltr\"><strong>For further information, please contact:<\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><strong>The EFG Hermes Public Relations Team<\/strong><\/p>\n\n\n\n<p dir=\"ltr\">PublicRelations@EFG-HERMES.com<\/p>\n\n\n\n<p dir=\"ltr\"><strong>May El Gammal<\/strong><br>Group Head of Marketing &amp; Communications at EFG Hermes<br><a href=\"mailto:melgammal@efg-hermes.com\">melgammal@efg-hermes.com<\/a><\/p>\n\n\n\n<p dir=\"ltr\"><strong><em>Note on Forward-Looking Statements<\/em><\/strong><\/p>\n\n\n\n<p dir=\"ltr\"><em>In this press release, EFG Hermes may make forward looking statements, including, for example, statements about management\u2019s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes\u2019 belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management\u2019s 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.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The award celebrates valU\u2019s innovation in the MENA fintech space and its commitment to continually serving clients through the delivery of best-in-class services and solutions valU, MENA\u2019s leading buy-now pay-later (BNPL) fintech platform, is honored to have been recognized as the Fintech Company of the Year at the first Gulf Business Tech Awards 2021 during &hellip;<\/p>\n","protected":false},"author":3,"featured_media":184781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[266],"tags":[],"class_list":["post-184780","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>valU, the Leading Buy-Now Pay-Later (BNPL) Fintech Platform, Wins the Fintech Company of the Year Category at the Inaugural Gulf Business Tech Awards 2021 - Arab Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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