valU, MENA’s leading Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced today that it acquired 100% of Paynas, a full-fledged employee management and benefits company that provides financial services to micro, small, and medium enterprises (MSME) in a signing ceremony attended by Dr. Rania A. Al-Mashat, Minister of International Cooperation.

The acquisition builds on valU’s mission to offer the wider society access to seamless financial solutions that facilitate their day-to-day activities and enhance their lifestyle; and reinforces Paynas’s mission to be MENA’s leading financial wellness and benefits platform, by offering access and convenience beyond employment. Joining forces with Paynas will act as a gateway for valU to reach micro, small and medium businesses that are considered to be the backbone of the economy, with the goal to unlock various opportunities for both employers and employees.

Paynas offers a multitude of employee management and payment services to MSMEs, including a cloud-based platform to manage time & attendance and payroll, financial products such as payroll cards and affordable health insurance, and financial wellness products such as earned wage pay-outs and salary advances. By combining Paynas’s service offering with valU’s BNPL plans covering healthcare, education, home appliances, furniture, and travel, among others, valU is delivering on its vision of becoming a holistic financing powerhouse catering with progressive and convenient solutions to every aspect of people’s daily lives.

valU will now harness a powerful ecosystem that constitutes compelling B2B partnerships, multiple acquisition channels, and a multi-product platform that will maximize returns through cross-selling synergies and low customer acquisition costs for both players. The partnership opens wide doors for valU’s BNPL solutions by tapping into Paynas’s roster of MSME clients and employees, integrating them into valU’s client base, while augmenting Paynas’s offering with a comprehensive range of financing products. Moreover, digitizing the datasets of Paynas’s users will better position valU to offer them more cost-effective BNPL products by improving its loan disbursement cycles and credit scoring systems.