|Type of Transaction||Buyout / Growth Capital|
Basata Financial Holding (Basata) is a designated vehicle established by B Investments, BPE Partners, and MM Group for Industry & Intl. Trade (MTI), a market leader in the local consumer electronics distribution and retail segment, to invest in Egypt’s fast-growing, non-banking financial services (NBFS) sector.
Basata currently holds two investments: (i) Tamweel Group (Tamweel) and (ii) Basata Microfinance, as well as three investments in the fintech space. Tamweel and Basata Microfinance were initially under Ebtikar. However, both investments were split from the NBFS company, Ebtikar, in 2021.
In 2018, Basata acquired a c. 47% stake in Tamweel, a group of companies operating in Egypt’s fast-growing financial services sector.
Basata Microfinance, formerly known as Vitas Misr, is a greenfield microfinance institution that was established in 2017 as a joint venture between Basata and Vitas Group, a leading international microfinance player, based on an equal partnership model. Currently, Basata has full ownership over Basata Microfinance.
Basata also has three venture capital (VC investments): Wasla, NowPay, and Capiter.
Tamweel offers a wide spectrum of financial products and services, such as mortgage finance, financial leasing, factoring, and insurance brokerage.
Basata Microfinance aims to capitalize on Egypt’s widely unbanked population through adopting international best practices with developed standards and procedures, offering microfinance solutions to medium, small, and micro enterprises.
Wasla is an incentivized mobile web browser that allows users to save money whilst shopping online via their proprietary deal finding widget. The company is currently in the process of embedding a “Buy Now, Pay Later” function.
NowPay is a corporate salary advance provider that enables corporate employees to get access to their monthly salary at any given time during the month. It also allows users to pay their bills via the application (via integration with Bee) and apply for “Buy Now, Pay Later” loans to acquire goods.
Capiter is a platform that allows SME retailers to order and get their supplies delivered, as well as apply for working capital financing, through the application.