GlobalCorp launches “Ollin for Lifestyle Finance” in the Egyptian Market
GlobalCorp a leading non-banking financial institution in Egypt, announces 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 the consumer financing needs. The company will provide installment programs covering auto loans, mortgage, 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.” - said GlobalCorp Founder and Group CEO Hatem Samir. “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.
‘Ollin’ has appointed a team of enterpreneurial 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, technology infrastructure and doubling the team size by the end of the year. The company will build on GlobalCorp’s track-record as an enterpreneur-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 acqusition of GlobalCorp by a consortium of investors comprising of EBRD (European Bank of Reconstruction and development), and two international private equity funds, Amethis and SPE Capital.
