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# Egyptian fintech valU acquires minority stake in Kiwe
- URL: https://www.techloy.com/valu-acquires-minority-stake-in-fintech-kiwe/
- Published: 2022-10-24T19:06:07.000Z
- Updated: 2022-10-24T19:06:07.000Z
- Author: Acquah Nana Yeboah
- Tags: / Fintech, Egypt, / News

Egypt-based fintech startup, valU has acquired a minority stake in Kiwe, a fintech startup focused on banking the unbanked in Egypt.

- Founded in 2017, valU is a subsidiary of EFG Hermes Holding that provides a buy now pay later (BNPL) service with a presence in Egypt and Saudi Arabia. While Kiwe is a fintech startup with a focus on young people, allowing them collect, send and spend money through its app.
- Kiwe also provides a digital platform for small businesses and startups to collect payments and make their business process seamless.
- This acquisition will help deepen valU's mission to fuel the growth of cashless transactions and widen its client base of young individuals.
- 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.