ValU set to expand fintech services to Jordan in early 2024

ValU said that it is aiming to enter new markets, especially in North Africa.

Cairo-based vaLU is a financing powerhouse, owned by EFG Hermes, providing customers with e-payment solutions for daily payments across wide range of services, such as healthcare, education, home appliances, furniture, and electronics.

ValU is currently applying for a license from the Central Bank of Jordan.

"We are confident in our ability to deliver unparalleled value and reshape the financial technology landscape in Jordan," said Walid Hassouna, CEO of valu.

VaLU sees strong demand from Jordanian merchants for its cutting-edge, tried and tested suite of financial technology solutions, the statement added.

In 2022, valU acquired 100 percent of the stakes of Paynas company, which offers financial services to micro, small, and medium enterprises in Egypt.

The same year, valU purchased a 35 percent share of FAS Finance, the consumer finance arm of Saudi Arabia’s FAS Labs, as a part of its strategy to expand in the Middle East and Africa.