Contact Financial Holding announced on Tuesday the signing of a collaboration protocol with Toothpick as part of its strategic plan to fund the health care sector with an investment of EGP 1bn during the second half of this year.
Through this partnership, Contact supports the expansion of Toothpick in Egypt and its regional expansion by providing a financing programme that serves the dental sector to enable dentists in emerging markets to benefit from e-commerce services, payments, and consumer financing to facilitate the procurement of their supplies, equipment, and even their training courses.
Furthermore, this partnership comes in light of the continuous expansion of Contact’s credit services to serve a wide variety of digital platforms. Moreover, it illustrates the company’s dynamic efforts towards enabling emerging tech-based projects to support the financing sector in Egypt, in addition to its ongoing work to develop and improve the way consumers and companies access financial services and achieve high-quality customer experience.
In this context, CEO of Contact Financial Holding Said Zater said: “Today, we are pleased to implement this strategic collaboration that supports Toothpick, which in record time has become a dominant emerging player that has been able to succeed quickly and has become a requisite tool within this sector.
“We look forward to supporting Toothpick by enhancing its payment and financing tools, as Contact will enable dentists to meet their purchasing needs regarding the equipment of their dental clinics with a credit limit of EGP 100,000 and a six-month interest-free repayment period without a down payment.”
“Furthermore, dentists will be given an additional credit limit for consumer finance to be used in different shopping outlets. This assures the extent to which Contact seeks to expand and widen its scope to support businesses across different advanced credit services,” he added.
Additionally, CEO of Toothpick Wael Bizri commented: “We are pleased to cooperate with an entity like Contact with over 20 years of experience and achievements in the non-banking financial sector. This collaboration will enable us to build and achieve our vision of creating a digital environment that allows dentists to shop online through our platform’s wide range of offers and benefits at their convenience, including enhanced processes, increased productivity, and cost reduction through the optimal use of comprehensive data collection and sector-related information.”
Furthermore, Bizri indicated that the platform was crafted specifically for professional dental practitioners, noting that dentists face multiple issues when purchasing the necessary equipment and supplies. Here lies the power of the idea of this application, which relies on dentists who believe in true digital transformation and engagement.