By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    September 21, 2023
    ABB allocates €13bn for green transformation by 2030
    ABB allocates €13bn for green transformation by 2030
    September 21, 2023
    DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
    DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
    September 21, 2023
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    September 21, 2023
    Egypt, KOICA sign $8m agreement to enhance educational capacity of Beni-Suef Technological University
    Egypt, KOICA sign $8m agreement to enhance educational capacity of Beni-Suef Technological University
    September 21, 2023
  • Politics
    PoliticsShow More
    Egyptian Health Minister highlights country's interest in local drug manufacturing
    Egyptian Health Minister highlights country’s interest in local drug manufacturing
    September 21, 2023
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    September 20, 2023
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    September 20, 2023
    Children dying in Sudan amid healthcare system collapse
    Children dying in Sudan amid healthcare system collapse
    September 20, 2023
    Egypt to announce presidential election timetable on Monday
    Egypt to announce presidential election timetable on Monday
    September 20, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: valU acquires stake in social payment start-up Kiwe
Share
Notification
Latest News
Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
Business
Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
Business
Egypt, KOICA sign $8m agreement to enhance educational capacity of Beni-Suef Technological University
Egypt, KOICA sign $8m agreement to enhance educational capacity of Beni-Suef Technological University
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Politics > valU acquires stake in social payment start-up Kiwe
Politics

valU acquires stake in social payment start-up Kiwe

Fatma Salah
Last updated: 2022/10/19 at 7:42 PM
By Fatma Salah 4 Min Read
Share
valU acquires stake in social payment start-up Kiwe
SHARE

valU announced on Wednesday its acquisition of a minority stake in local fintech start-up Kiwe — the first 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 capitalises on their daily hassles of payment and social engagement, allowing them to easily collect, send, and spend money electronically.

Additionally, 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.

By combining Kiwe’s service offering with valU’s BNPL plans, valU is delivering on its vision of becoming a holistic financing powerhouse, providing progressive and convenient solutions to every aspect of people’s daily lives.

The investment also compliments valU’s recent strategic acquisition of Paynas — a full-fledged employee management and benefits company that provides financial products such as payroll cards and digital salary advances to micro, small, and medium enterprises (MSMEs).

The minority stake acquisition in Kiwe builds on valU’s mission to fuel the growth of cashless transactions, which positively impacts financial inclusion in Egypt. It is also in line with valU’s mission to widen its client base of young individuals and small businesses and will support Kiwe’s expansion by tapping into valU’s vast network of vendors across numerous sectors.

This investment builds on an existing partnership between Kiwe and valU, which has seen them successfully join forces across several large events such as Le Marche and Shababco. This partnership has also facilitated the participation of new exhibitors who had no previous access to payment solutions.

Habiba Naguib — Head of Strategy and Market Expansion at valU — said: “This strategic investment in Kiwe comes as a natural step to further bolster our portfolio of financial services by extending more innovative solutions to MSMEs and young people. Serving these segments allows us to reach a larger population, ensure that we are alleviating financial hassles, drive financial inclusion, and contribute to greater convenience for millions of customers.”

“With its unique offering and simplified, engaging user experience, Kiwe will greatly benefit from leveraging our vast and ever-growing network of vendors. Hence, this is an investment that promises growth for all. We believe we can create more innovative financial solutions that unlock many opportunities for us and our users, creating long-term value for the people who rely on our services every day to improve their lives, grow their businesses, and positively impact their communities.”

This investment marks the first for Kiwe this year, however, it plans to fundraise a seed round in the coming months.

For his part, Co-Founder of Kiwe Omar Kamel said: “For us at Kiwe, valU’s investment is proof positive that we’re forging ahead in the right direction and signals confidence in our brand that offers unique services that are in high demand.”

“Having a leading fintech player such as valU onboard acts as a pivotal step forward in our expansion strategy by allowing us to benefit greatly from their success and giving us access to their vast network of vendors. With our companies aligned on a common vision set out to give seamless access to financial solutions and enhance financial literacy, we’re positive we will be amplifying sustainable social and economic success.”

You Might Also Like

Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo

Egyptian Health Minister highlights country’s interest in local drug manufacturing

Egypt leads meeting to urge global support for Sudan’s humanitarian crisis

Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism

Children dying in Sudan amid healthcare system collapse

TAGGED: valU
Share this Article
Facebook Twitter Email Print
Previous Article Opinion| Either side wins, global destruction is guaranteed Opinion| Either side wins, global destruction is guaranteed
Next Article Al-Sisi inaugurates black sand complex in Kafr El-Sheikh Al-Sisi inaugurates black sand complex in Kafr El-Sheikh
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
Business
Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?