GlobalCorp, a leading non-banking financial institution in Egypt, announced the launch of its new B2C platform for lifestyle financing under the brand name ‘Ollin’.
‘Ollin’ will serve as a one-stop-shop and an ‘All-In’ platform for all consumer financing needs. The company will provide installment programs covering auto loans, mortgages, home finishing, education and tuition fees, healthcare, travel, and club memberships.
GlobalCorp has allocated an initial investment of EGP 150 million to its new venture, with more funds to be deployed as ‘Ollin’ expands its client base and product offerings.
“The launch of the B2C business is another milestone within our strategy of becoming a comprehensive NBFI platform offering the full range of financial products and covering different market segments.”
“Our aim is to build a premium brand that goes beyond traditional installment offerings to deliver a unique and comprehensive customer experience and to become the trusted partner for our customers’ lifestyle aspirations and financial planning needs.”
GlobalCorp Founder and Group CEO Hatem Samir.
‘Ollin’ has appointed a team of entrepreneurial and experienced industry veterans with backgrounds in banking and financial services, telecoms, and technology. The company’s near-term focus will be on scaling the operational capabilities, and technology infrastructure and doubling the team size by the end of the year. The company will build on GlobalCorp’s track record as an entrepreneur-led organization and its leading market positioning in serving corporate and SME clients with a range of leasing, factoring, and securitization solutions.
The new venture comes in right after the acquisition of GlobalCorp by a consortium of investors comprising EBRD (European Bank of Reconstruction and Development) and two international private equity funds, Amethis and SPE Capital.