Egypt’s BNPL fintech valU further expands to MENA with Saudi’s FAS Labs

Egypt’s BNPL fintech valU further expands to MENA with Saudi’s FAS Labs

FAS Labs, owned by Fawaz Abdulaziz Al Hokair & Company (Alhokair), the leading franchise retailer in Saudi Arabia, and Arabian Centers Company (ACC), the leading owner, developer, and operator of lifestyle shopping centers in Saudi Arabia, have formed a strategic partnership with Cairo-based valU Consumer Finance (valU).

The agreement will accelerate the geographical expansion of the MENA region’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, providing digital consumer finance solutions in Saudi Arabia through FAS Finance.

The latest partnership will result in FAS Finance being 65 percent owned by FAS Labs and 35 percent by valU. FAS Labs was recently established to lead the joint digital initiatives of Alhokair and ACC, offering Saudi customers a range of accessible and customizable digital consumer finance solutions, to build and scale a fully integrated shopping platform that engages consumers from pre- to post-purchase.

Mohamad Mourad

Group MD & CEO

Fawaz Al Hokair “Arabian Centres and Alhokair share a pioneering history and a strong team with longstanding partnerships contributing to a robust retail footprint in Saudi Arabia. The launch of FAS Finance and the strategic partnership with valU are perfectly aligned with our commitment to drive a robust omnichannel experience. Through the integration of innovative payment solutions, we offer