Sign in
Bosta + Valu partner on IOD service: Egypt’s buy-now, pay-later solutions provider Valu and Egyptian logistics firm Bosta have inked a strategic agreement to deploy an installment on delivery (IOD) via the Valu app, according to a joint press release (pdf). The IOD system was developed by electronic payment solution provider and MEASA subsidiary PayTabs Egypt, the statement notes.
Details: Bosta will provide an installments on delivery (IOD) service for customers to pay for purchases in installments via Bosta’s courier service at no added cost, the statement notes. Customers with a Valu account will benefit from installment plans ranging from one to sixty months. The move targets SMEs in Egypt and looks to boost e-commerce sales.
About Bosta: Established in 2017 by CEO Mohamed Ezzat (LinkedIn) and co-founder Ahmed Gaber (LinkedIn), the Egypt-based logistics startup offers first, middle, and last-mile delivery services, with next-day delivery guarantees. Bosta has successfully delivered over 10 mn shipments to date, the statement said. 2023 saw the company boost shipments by 44% and bring on board former DHL Express CEO Ken Allen (LinkedIn) as a board member and investor, according to a company statement. Bosta will be the first shipping company to offer this form of IOD service in Egypt, Ezzat said.
Bosta has been doubling down on regional expansion: The company expanded to KSA markets in March 2022, with the move coinciding with the closing of an undisclosed pre-Series B round led by Khwarizmi Ventures and Hassan Allam Holding. 2021 saw the company unveil a five-year plan to expand to new markets, including KSA, UAE, Kuwait and several African countries.
IN OTHER BOSTA NEWS- The company raised an undisclosed investment from pan-African investment firm Axian Group, according to a press release picked up by Wamda last week. The raised funds will go towards boosting Bosta’s growth and enhancing its delivery and logistics services in MENA, the statement said.
