valU, a leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, partnered with Sympl, a FinTech BNPL startup, to allow valU customers to pay for purchases using Sympl’s interest-free, three-month payment plans across select valU and Sympl retail partners and merchants.
The partnership will allow valU customers to benefit from Sympl’s payment plans across different product and service categories. The partnership also complements valU’s platform by bringing back valU’s popular three months tenure, the “Hattrick” product powered by Sympl, and benefitting from Sympl’s short-term interest-free plan across a diverse network of partners.
“We provide people of different income levels in Egypt with the tools and access to finance they need to live better lives and drive sustainable change in the communities in which we all live and work. We are no strangers to the founders of Sympl, and I am excited to be working with such an exceptional team of individuals again to further drive the growth of the BNPL market in Egypt,” Walid Hassouna, valU’s Chief Executive Officer, said.
Sympl targets the banked segment in Egypt, which amounts to approximately 30 million people, allowing them to make purchases and pay for them later without prior registration.
“The partnership between us and valU will unlock short-term, interest-free payment plans for valU’s expansive customer base and merchant network, further enabling us to grow our respective businesses. Partnerships like this underscore Sympl’s commitment to empowering merchants with the tools to grow and our customers with the tools to better save their money by paying for purchases through our flexible, buy-now, pay-later (BNPL) plans. This helps build an ecosystem of businesses that work together seamlessly to provide clients with end-to-end financial solutions that build better lives and fundamentally uphold a commitment to financial inclusion. It brings me great pleasure to be working again with my former colleagues at valU,” Mohamed El Feky, Sympl’s Co-Founder and Chief Executive Officer, said.
AAIB partnered with Sympl to offer BNPL services to its customers earlier this month.
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