FinTech

Med Installment achieved 338% growth during its first year

Mead Installment celebrated unprecedented achievements in its first year since its launch, with the company’s client base reaching 25,000 by the end of 2023.

The total number of transactions for the company reached 17,000, achieving a growth rate of 338% in business volume during the year 2023.

The company attributed these developments to its plan targeting new customer segments by increasing the number of products and services offered to individuals.

This aligns with the central bank’s directives to achieve financial inclusion.

This success reflects the strategy of Mead Installment, which focuses on directing the company’s efforts to achieve financial inclusion as a fundamental means and an important element of sustainable growth.

Additionally, the company aims to optimize customer investments, providing a wide range of options.

The company emphasized its dedication to providing the best financial services to customers, meeting their diverse aspirations and requirements with the highest quality and without complications.

Hani Abdelwahab, CEO of the Business Sector at Mead Installment, expressed satisfaction with the achievements of the past year.

highlighted that Mead Installment officially began its services in the first quarter of the current year, achieving a 120% growth in the company’s business volume in the first half and 218% in the second half of 2023.

The company collaborates with a broad network of merchants and service providers, offering a range of non-traditional financial services to increase financial inclusion in line with technological and digital advancements.

Abdelwahab noted that this growth is a result of the company’s commitment to providing diverse financing solutions across various economic sectors.

Abdelwahab emphasized the company’s significant focus on providing financing services and solutions for the retail and consumer goods sector.

Mead Installment has contracted with more than 350 brands in various sectors, distributed across over 1500 branches in Greater Cairo and Alexandria.

The company aspires to contract with more partners this year to cover all customer needs for consumer goods under competitive installment systems.

Mead Installment has allocated around 500 million Egyptian pounds for expanding its installment services.

The company is dedicated to offering financial services and solutions for the retail and consumer goods sector, ensuring efficiency, speed, and security.

Mead Installment aims to achieve the highest levels of trust and leadership, making luxury an integral part of the customer experience.

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