Egyptian fintech powerhouse valU has officially announced its expansion into the Jordanian market, marking a significant step in its regional growth strategy. The company also addressed recent market speculation, clarifying its immediate expansion plans in a statement to the bourse.
Jordan Expansion Solidified
The move into Jordan comes after valU received final approval from the Central Bank of Jordan. The company has secured a specialized finance license, enabling it to launch its suite of consumer finance services in the country.
To meet regulatory requirements, valU fulfilled the minimum capital requirement of JOD 5 million (approximately $7 million). This strategic entry underscores the company’s commitment to extending its footprint across the MENA region.
Clarifying Future Growth
While confirming the Jordan launch, valU took the opportunity to deny circulating news that suggested plans to enter two additional new markets within the next 30 months.
In its statement, the company affirmed that it is continuously evaluating new markets and exploring various opportunities for growth. However, it clarified that the specific rumors of a two-market expansion were unfounded at this time, emphasizing a more measured and strategic approach to its international scaling.
About valU
valU is a leading MENA financial technology company offering comprehensive and convenient consumer financing solutions. As a subsidiary of EFG Holding, it provides Buy-Now, Pay-Later (BNPL) services and other digital financing products, enabling customers to make purchases and pay in installments through a network of retail and e-commerce partners.
Source: Zawya
