NewTech Friday: Yalla – The super-app for individuals & businesses
Waleed Sadek is the CEO and Founder of Yalla. He tells Qorus about the Yalla platform, a digital financial services ecosystem for individuals and businesses, which is already available in Egypt and the United Arab Emirates.
Waleed Sadek is the CEO and Founder of Yalla. He tells Qorus about the Yalla platform, a digital financial services ecosystem for individuals and businesses, which is already available in Egypt and the United Arab Emirates.
Waleed, before we get started, let's do a video pitch for our very busy readers who don't have time to read. Can you introduce Yalla in less than a minute?
What led to the creation of Yalla?
The banked population of Egypt was around 33% of the population. With this limited access to financial services, Egyptian individuals and businesses were deprived a lot of solutions to assist their economic prosperity and social welfare.
Could you present Yalla’s offer?
Yalla provides a simple, lightweight digital financial account in the form of a prepaid card bundled with a super-app. The app offers a number of financial and non-financial services for individuals (pay, remit, save, invest, insure, order anything from a built-in marketplace) and for businesses (collect payments, pay suppliers, sell online).
We launched Yalla platform in Egypt in Feb 2022, and in less than eight months more than 1 million customers signed up and more than EGP 2 billion was processed.
What's coming next for your firm?
Expansion to new markets in Africa and the Middle East, while adding new services to the super-app.
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