Van Campen Liem advised Paynas in connection with its acquisition by valU, one of MENA’s leading BNPL lifestyle-enabling fintech platforms.
Paynas was founded by Mohamed Mounir, Yara El Abd and Motaz Lotfy in 2019 and is a digital employee management and benefits platform providing financial services to MSMEs by enabling cloud-based HR processes including financial products and employee benefits such as payroll cards, affordable health insurance, earned wage pay-outs and salary advances.
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. Paynas will act as a gateway for valU to reach micro, small and medium businesses who are considered to be the backbone of the economy, with the goal to unlock various opportunities to both employers and employees. Together, both players will benefit from cross-selling synergies and low customer acquisition costs.
The VCL team leading this transaction included Saman Sadeghi, Tom Mitchell, Ilona van den Bergh, Robin de Meester and Philip van Rossum.