valU to offer Partment users financing solutions: EFG Hermes’ valU has partnered with proptech startup Partment to offer its users flexible payment plans up to 60 months, the two companies said in a joint statement (pdf) yesterday.

REMEMBER- Partment is an online platform that allows people to purchase shares in a second home with up to seven other people. The company allocates each owner a quota of days to use the property and handles the management and maintenance. The startup secured USD 1.5 mn in a pre-seed round late last year.

What they said: “As the Egyptian real estate market continues to witness price hikes due to rising inflationary pressures, buy-now, pay-later (BNPL) services continue to grow in demand … valU and Partment have come together to provide the public with inclusive financing solutions that enable them to serve on their investments in real estate and benefit from potential returns on their investment,” said valU head of production Ahmed Seoudy.

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