EFG Hermes Corp-Solutions and Klickit enter into strategic partnership

EFG Hermes Corp-Solutions and Klickit enter into strategic partnership

- The agreement helps fill a financing gap faced by education service providers and contributes to Egypt’s drive to foster social and economic development by fueling the growth of the education sector.

Cairo: EFG Hermes Corp-Solutions, a wholly-owned subsidiary of EFG Hermes Holding and one of Egypt’s leading leasing and factoring companies, and Klickit, a payment management and digital collection platform for education fees, entered into an agreement to provide education service providers with a holistic set of financial solutions to drive the sector’s growth and development.

Through the agreement, Klickit’s network of education providers will have access to EFG Hermes Corp-Solutions’ leasing and factoring services to finance their capital expenditures. By means of receiving upfront funding covering forecasted tuition fees that will be collected through Klickit’s platform, EFG Hermes Corp-Solutions’ services will thereby fill any gaps in the schools’ cash flow needs. On the other hand, Klickit offers parents and students an online payment platform that makes paying tuition fees faster, easier, and more affordable, by extending a range of payment solutions through its different partners, all while serving schools with a hassle-free, digital, and convenient collection and reconciliation tool.

Capital expenditures financed through EFG Hermes Corp-Solutions’ leasing services encompass all types