One Finance launches its integrated consumer financing services in the Egyptian market, with EGP 100mln capital

One Finance launches its integrated consumer financing services in the Egyptian market, with EGP 100mln capital

Cairo: One Finance – the Integrated Consumer Financing Platform - announced the launch of its services in the Egyptian market with an issued and paid capital worth EGP 100 million. For the first time in Egypt, the company introduces an innovative buy now pay later business model by creating an integrated consumer financing platform that fulfills the needs of Egyptian consumers from one place, to facilitate the financing experience. One Finance works in diverse financing services including consumer goods and services, household appliances and durable goods, auto loans, education fees, home finishing, and other sectors vital to Egyptian consumer in order to meet their demands.

Tarek Elhousseiny, Chairman of One Finance, stated that the economic volatility the world is currently undergoing and its implications on the local economy and direct impact on the purchasing power of individuals, has increased the need for consumer financing services as a secure option to support consumer’s purchasing needs. “This translated to an increase in demand on the sector, in order to hedge against the risks of lack of liquidity, especially in light of continuous price hikes and increase in consumer spending; making it an instrumental safe tool to fill consumption and living financing gaps,” he