CAIRO: valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabled fintech platform, today announced its investment in Hoods, the Middle East’s first and leading live entertainment commerce platform. valU’s investment aims to leverage Hoods’ unique platform to penetrate the rapidly growing virtual shopping space and diversify its offerings to both new and existing valU customers and merchants. is. The Hoods investment comes just two months after valU announced its acquisition of Paynas. Kiwe is the first youth social payment app to facilitate onboarding of the unbanked segment in Egypt.
Hoods’ live shopping platform offers an innovative, user-friendly shopping experience that is inherently unique and has proven successful in attracting a large and growing customer base. He builds digital applications that bring together vendors, content creators, and shoppers in one platform to interact and conduct retail transactions in a fun way through seamless experiences. Hoods has changed the way consumers shop online by enabling shoppers to view the products they want in an engaging, live format.
Globally, especially after the pandemic, virtual shopping is fast becoming the preferred method among customers to purchase items online. In contrast to traditional e-commerce, Hoods leverages personal-made videos with creative content to offer unique and entertaining product displays to customers. Hoods uniquely blends the physical shopping experience with the speed and convenience of e-commerce by providing a platform where consumers can connect with influencers and brands and see their desired products come to life. Omnichannel has established itself as his solution.
Comments on investment Habiba Naguib, Head of Strategy and Market Expansion, valU“This investment in hoods reflects our vision and focus on developing trendsetter solutions across the digital ecosystem that are truly focused on creating seamless and convenient experiences that add value. It’s a testament to valU’s focus on partnering with unconventional markets, platforms, and companies that fit into everyone’s everyday life.Leveraging this exciting space will bring Hoods’ technology and community together. Accessible, providing a convenient financing solution when shopping online, while making valU’s extensive merchant network available on Hoods’ live shopping platform. , will provide valU customers with access to a disruptive platform that will enhance their shopping experience.”
The deal is consistent with valU’s commitment to invest in companies that support its mission to improve consumer lifestyles. With this transaction, valU will provide people and businesses with access to the tools and funds they need to build better lives and better companies, a fundamental endorsement of their commitment to financial inclusion, and a long-term value proposition. You can further implement your strategy to create positive impacts and impacts. The community that the company continues to serve.
Also, for comments on the transaction, Hoods founder Mostafa Hanafi“Our passion stems from our inherent motivation to shape the market and create life-changing experiences worth creating. We are very pleased to partner with Hoods to bring Hoods services to consumers and grow our customer base.ValU’s investment further strengthens our confidence in the exciting future of the virtual shopping space. By bringing change to this ecosystem, we have created new markets that create new and exciting experiences for our clients, and the investment by valU will accelerate our growth plans and bring more to the market. You can make an impact.”
Hoods co-founder Waleed Ghalwash, also said of the deal: We aim to get your product to your doorstep quickly and hassle-free. This unique partnership with valU will enable us to offer affordable payment solutions to further enhance the consumer shopping experience. “
Founded in 2017 and a subsidiary of EFG Hermes Holding, valU is an industry-leading Buy Now Pay Later (BNPL) enabling fintech platform that offers convenient and customizable financing plans for up to 60 months. ) lifestyle. With over 5,000 points of sale and over 330 websites, valU has an extensive network of retail and e-commerce providers across categories such as home appliances, electronics, home furnishings, furniture, residential solar solutions, healthcare, education and more. provides access to , travel, fashion and more. As the first platform of its kind in the MENA region, valU customers will be able to receive instant credit decisions via their device, with access to an ever-growing platform of partners.
For more information, please contact:
EFG Hermes Holding Public Relations Team
May El Gamal
Group Chief Marketing & Communications Officer at EFG Hermes Holding
About the hood
hoods is a video and live entertainment and online shopping platform. A unique blend of shopping and entertainment in a compelling experience that combines the convenience of powerful e-commerce with the excitement of live entertainment, offering international and local products with a variety of payment methods to benefit any shopping experience. .
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