valU, a MENA-based fintech platform, has partnered with Partment, a digital platform that offers fractional shares (co-ownership) in fully-managed second homes across prime locations, the company announced on Monday. Through this partnership, customers can leverage valU's flexible and affordable payment plans for Partment's property management and maintenance services. Partment and valU aim to provide customers with an unrivaled investing experience by unlocking access to premier vacation homes without the hassle of property management and maintenance. The properties are fractionalized into up to eight parties, allowing each to own an equal share in the property value and spend 41 nights per year when booked through Partment's proprietary booking system. Customers can finance Partment's services through valU's convenient and flexible tenors that range from 6 to 60 months and receive approvals within 15 minutes. Ahmed Seoudy, Group Head of Product Development at valU, commented on the partnership, stating that it will grant people access to top-notch residential property services at affordable prices and through a swift and hassle-free process. 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. Founded in 2022 with a successful pre-seed round of $1.5m, Partment is backed by prominent venture capitals (VCs), including Nclude and Plus VC. Partment aims to continue breaking traditional barriers to allow more people to enjoy vacation homes in prime locations at a fraction of the price. Nadim Nagui, CEO and Co-Founder at Partment, commented that their partnership with valU will enhance their ability to offer tailored and affordable financing solutions that meet the needs of modern-day consumers and enable more people to achieve their dreams of investing in a vacation home. They look forward to continuing to innovate and expand access to co-ownership homes across the region.
