GlobalCorp is a full-fledged, leading non-banking financial services institution in Egypt. The company announced the launch of its new B2C platform for lifestyle financing under the brand name ‘Ollin’ on Wednesday.
GlobalCorp has allotted an initial investment of EGP 150 million to its new undertaking, with more funds to be deployed as Ollin expands its shopper base and product choices.
‘Ollin’ is determined to serve as a one stop shop and an all-inclusive 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.
The GlobalCorp aims to become a comprehensive AI enabled NBFI platform
The GlobalCorp Founder and Group CEO, Hatem Samir, stated that the launch of the B2C business is another milestone within their strategy of becoming a comprehensive NBFI (Non-banking financial institution). The AI enabled platform offers a full range of monetary merchandise covering different market segments. The GlobalCorp’s aim is to build a premium brand that goes beyond traditional instalment offerings to deliver a unique, comprehensive customer experience to become the trusted partner for their 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, technology and telecoms.
The company’s imminent focus would be on scaling technology infrastructure, operational capabilities, and boosting the team’s size by the end of the fiscal year.
The company would also build on GlobalCorp’s statistics as a merchant-led organisation and its leading market positioning in serving corporate and SME clients with a range of factoring, leasing, and securitisation solutions.
The new undertaking comes in right after the acquisition of GlobalCorp by a consortium of stakeholders comprised of the European Bank of Reconstruction and Development and also two worldwide non-public equity funds -Amethis and SPE Capital.