BNPL Platform valU Acquires Fintech Paynas

Egypt-based BNPL platform valU has acquired Paynas to reach more micro, small, and medium enterprises and to augment its financial offering.

The acquisition builds on valU's mission to offer the wider society access to seamless financial solutions that facilitate day-to-day activities and enhance lifestyle. Joining forces with Paynas, it will act as a gateway for valU to reach micro, small, and medium businesses who are considered to be the backbone of the economy, with the goal to unlock various opportunities to both employers and employees.

Paynas offers a multitude of employee management and payment services to MSMEs, including a cloud-based platform to manage time & attendance and payroll, financial products such as payroll cards and affordable health insurance, and financial wellness products such as earned wage pay-outs and salary advances. By combining Paynas' service offering with valU's BNPL plans covering healthcare, education, home appliances, furniture, and travel, among others, valU is delivering on its vision of becoming a holistic financing powerhouse catering with progressive and convenient solutions to every aspect of people's daily lives.

(Source: The Paypers)