GlobalCorp Strengthens Financial Position with $16.2 Million Capital Hike

  • Capital Increase: GlobalCorp Group raised its paid-in capital by EGP 800 million to EGP 1.4 billion, strengthening its position in Egypt’s financial sector.

  • Business Transformation: The company plans to transition from B2B leasing and factoring to a comprehensive non-banking financial institution (NBFI) platform serving both B2B and B2C clients.

  • Strong Support: The capital hike received backing from major shareholders, including EBRD, Amethis, and SPE Capital Partners, positioning GlobalCorp as Egypt’s leading NBFI by paid-in capital.

  • Growth Achievement: Since its founding, GlobalCorp has managed a portfolio of EGP 19 billion with operating revenues of EGP 2.3 billion, showcasing significant growth and scalability.

  • Focus on Inclusivity: Through its subsidiary Ollin, GlobalCorp aims to enhance financial services accessibility in Egypt, promoting economic development and financial inclusivity.

GlobalCorp Group, a leading non-banking financial services provider in Egypt, has increased its paid-in capital by EGP 800 million. This substantial hike raises the capital from EGP 600 million to EGP 1.4 billion, marking a significant milestone in the company’s strategic efforts to strengthen its footprint in Egypt’s financial sector.

The capital increase aligns with GlobalCorp’s long-term vision of evolving from a business-to-business (B2B) leasing and factoring provider into a comprehensive non-banking financial institution (NBFI) platform.

This transformation will enable the company to cater to both business and consumer segments (B2B and B2C), thereby broadening its impact on the financial services landscape in Egypt.

A key player in this expansion is Ollin, GlobalCorp’s consumer and mortgage lending subsidiary. Ollin aims to make financial services more accessible and inclusive, offering tailored solutions to meet the diverse needs of Egypt’s population. Through this initiative, GlobalCorp is actively contributing to financial inclusivity and economic development across the country.

The capital hike received strong backing from existing shareholders, including notable investors such as the European Bank for Reconstruction and Development (EBRD), Amethis, and SPE Capital Partners. With this support, GlobalCorp is now positioned as the leading NBFI in Egypt in terms of paid-in capital, further solidifying its role as a market leader.

Since its establishment, GlobalCorp has demonstrated remarkable growth. The company’s managed portfolio has reached EGP 19 billion, while its operating revenues stand at EGP 2.3 billion, reflecting its success and scalability.

Hatem Samir, Founder, Managing Director, and CEO of GlobalCorp, emphasized the importance of this development. He stated, “By expanding our capital base and transitioning into a comprehensive NBFI platform, we are better equipped to serve both businesses and consumers. This step empowers us to drive economic growth and promote financial inclusivity across Egypt.”

GlobalCorp’s strategic capital raise and expansion signify its commitment to innovation and leadership in Egypt’s financial services sector, setting the stage for sustained growth and broader economic impact.


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Here’s a structured list based on the information provided:

Startup:

  • GlobalCorp Group

Founders:

  • Hatem Samir (Founder, Managing Director, and CEO)

Investors:

  1. European Bank for Reconstruction and Development (EBRD)
  2. Amethis
  3. SPE Capital Partners

Fundraise Series:

  • Recent Capital Increase:
    • Amount: EGP 800 million
    • New Total: EGP 1.4 billion
    • Prior Total: EGP 600 million

Overview:

  • GlobalCorp aims to evolve from B2B leasing and factoring to a comprehensive non-banking financial institution (NBFI) serving both B2B and B2C clients. The company has managed a portfolio of EGP 19 billion and achieved operating revenues of EGP 2.3 billion. The increase in paid-in capital aims to support strategic expansion in Egypt’s financial sector, with a focus on financial inclusivity through its subsidiary Ollin.

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