Egyptian consumer finance platform ADVA has been acquired by the Abu Dhabi-based, IHC-owned Maseera to boost AI-powered financial inclusion.
Founded in 2020, ADVA is a buy now, pay later (BNPL) platform that allows consumers to access short-term credit to pay for items over time.
The Abu Dhabi-based Maseera Holding for Financial Investments, meanwhile, is a portfolio company of International Holding Company’s (IHC) subsidiary 2PointZero, and has now acquired ADVA in a deal that sees the startup become Maseera’s dedicated technology and data analytics hub for North Africa.
As part of its next phase of growth, ADVA has applied for Egypt’s first digital consumer finance license, which will enable end-to-end onboarding through electronic Know Your Customer (e-KYC) procedures and legally binding e-signatures.
“Together, we will harness the power of data and AI to deliver transformative financial solutions tailored to Egypt’s middle and low-income segments,” said Amro Abouesh, CEO of Maseera.
