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Egyptian Microfinance Specialist Tanmeyah Acquires B2B Platform Fatura.

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MANews-(C)2009-2022

Egyptian financial services group EFG Hermes Holding's (LSE: EFGD) Tanmeyah for Microfinance Services subsidiary has concluded the acquisition of B2B platform Fatura Netherlands B.V., the company said.

Fatura is a fast-growing tech-driven Business-to-Business platform with a regional footprint of 22 governorates in Egypt.

Fatura is backed by prominent shareholders in the field with EFG EV Fintech being one of the primary investors since 2020.

The platform brings together retailers, manufacturers, and wholesalers in one place.

Fatura offers its users services ranging from a marketplace with live product viewing and price transparency to B2B buy now pay later services and marketing support services.

Throughout its years of operation, Fatura has witnessed a significant increase in its Gross Merchandise Value and the number of active users, particularly after the two successful rounds of fundraising from six different venture capital funds and other prominent angel investors.

Following the acquisition, Tanmeyah will own 100% of Fatura Netherlands B.V and the founders of Fatura will continue to manage the business as part of the Tanmeyah management team while becoming shareholders in Tanmeyah.

The shareholders of Fatura will receive a combination of internally generated cash and existing Tanmeyah treasury shares.

Tanmeyah for Microenterprise Services is a company in providing a range of microfinance solutions in Egypt.

Tanmeyah was established in 2009 and since inception has achieved rapid growth to become one of the leading entities in the field of working capital financing for owners of low-income generating projects.

The financing programs offered provide owners of microenterprises with the necessary support to develop...

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