valU

Gaining market share through innovation

In 2017, EFG Hermes’ NBFI platform launched valU, an innovative fintech platform that allows customers to access a wide network of merchants, calculate and select customized installment programs, and instantly make purchases in stores once they have been registered and approved. valU also offers a variety of repayment options from in-app debit or credit card gateways to cash payments through Fawry, Massary, Aman, Bee and Sadad.

Prior to launching valU, an extensive consumer behavior research was conducted to identify the right approach to penetrate the highly competitive consumer landscape. Once requirements and approaches were identified, valU was rolled out for the Firm’s employees as a pilot program to assess how well users would understand the product, navigate its options and adapt it into their purchase behaviors.

As the team gained incremental insights into how consumers behave, the product was gradually rolled out to more than 500 merchants by the first half of 2018 and ended the year with more than 1,000 retail locations covering more than 130 different brands.

The aggressive expansions continued throughout the year in terms of valU’s vendor network, client base, product categories, geographic footprint and online reach. Through dedicated vendor and promotion teams, the product created strategic alliances and exclusive offers that match the needs and wants of consumers.

By the end of 2018, valU expanded to e-commerce as a checkout payment method available on leading Egyptian online stores. Becoming the only payment-on-installment checkout method available online, valU has realized its true potential as both an offline and an online payment platform.

Outside the app, which is available for download on iOS and Android, valU partnered with the Egyptian Ministry of Investment and International Cooperation and the Saudi Fund for Development to finance Uber partners who are looking to own vehicles that can be integrated into Uber’s ride-sharing platform.

4Q18

3Q18

FY18

Number of Downloads

55,856

21,407

151,243

Number of Sign-ups

35,917

16,182

99,777

Number of valU App Customers

12,086

6,054

28,566

Limits Activated Value (EGP million)

105.3

57.1

239.8

Total Portfolio Outstanding (EGP million)

137.5

64.4

137.5

Number of Transactions

8,232

3,116

14,040

Number of UBER Cars Delivered

77

48

156

Number of Merchants

206

147

206