valU acquires stake in social payment startup Kiwe

valU acquires stake in social payment startup Kiwe

- This investment falls in line with valU’s strategy to offer a holistic set of end-to-end financial solutions to individuals, namely youth and small businesses.

- Kiwe aims to utilize the investment to enhance growth by both expanding its financial product offerings to the unbanked youth segment and increasing its merchant network to be more widespread across the nation.

Cairo: valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today its acquisition of a minority stake in local fintech start-up, Kiwe, the first youth social payment app that facilitates onboarding the unbanked segment in Egypt. Currently, EFG Hermes Finance, EFG EV Fintech, dFin Holding, and Marakez are among the firm’s existing shareholders.

Kiwe’s fintech solutions attract young people, as the company capitalizes on their daily hassles of payment and social engagement, allowing them to easily collect, send, and spend money electronically. In addition, it offers small businesses and start-ups a digital, simple, and cost-efficient payment platform, with the goal of alleviating the daily financial struggles faced by young entrepreneurs doing business. Kiwe currently utilizes PayTabs Egypt, one of EFG Hermes Holding’s subsidiaries and part of its Non-Bank Financial Institutions (NBFI) platform, as their secure payment processing platform. Kiwe can be utilized at