Global Corp — a leading non-banking financial institution in Egypt — announced the launch of its new B2C platform for lifestyle financing under the brand name ‘Ollin’ on Wednesday.
Ollin will serve as a one stop shop and an “all-in platform” for all the consumer financing needs. The company will provide instalment programmes covering auto loans, mortgage, home finishing, education, tuition fees, healthcare, travel, and club memberships.
Global Corp has allocated an initial investment of EGP 150m 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 a 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 instalment 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 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 operational capabilities, technology infrastructure, and doubling the team’s size by the end of the year.
The company will also build on GlobalCorp’s track-record as an entrepreneur-led organisation and its leading market positioning in serving corporate and SME clients with a range of leasing, factoring, and securitisation solutions.
The new venture comes in right after the acquisition of GlobalCorp by a consortium of investors comprised of the European Bank of Reconstruction and Development and two international private equity funds — Amethis and SPE Capital.