Tanmeyah for Microenterprise Services, a subsidiary of Egypt-based EFG Hermes Holding, recently acquired Netherlands-domiciled Fatura, a “tech-driven business-to-business (B2B) platform” active in Egypt. Tanmeyah CEO Hossam AlNaggar said the acquisition will provide “the company a faster route to digitally transform and develop.” The terms of the transaction have been kept confidential.
Fatura connects manufacturers, wholesalers and retailers with services such as a “marketplace with live product viewing and price transparency to B2B buy-now-pay-later services and marketing support….” Founded in 2019, the firm serves approximately 60,000 retailers in 22 municipalities in Egypt.
Tanmeyah offers loans in amounts ranging from EGP 1,000 (USD 53) to EGP 100,000 (USD 5,300) that are designed for: (1) women; (2) micro- and small enterprises; and (3) vehicle purchases. Founded in 2009, the firm has since grown to operate 304 branches serving 391,000 customers with a portfolio of EGP 3.9 billion (USD 210 million) as of March 2022.
EFG Hermes is active in services such as investment banking, securities brokerage, asset management, research, microfinance, mortgage finance and insurance. It has operations in 13 countries in the Middle East and North Africa and approximately 4,400 employees. As of 2021, the company had total assets of EGP 45 billion (USD 2.4 billion).
By Hasnat Aslam, Research Associate
Sources and Additional Resources
Fatura homepage
https://faturab2b.com
Fatura app
https://play.google.com/store/apps/details?id=com.faturaegypt.app
Tanmeyah homepage
https://tanmeyah.com
EFG Hermes Holding
https://efghermes.com
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