Swedish buy-now-pay-later (BNPL) giant Klarna has made waves with its plans to go public on the New York Stock Exchange (NYSE). But in Egypt, fintech startup Valu is preparing for its own big moment. The company has announced plans to list 20.5% of its shares on the Egyptian Exchange (EGX) in 2026, marking the country’s second-ever fintech IPO after Fawry.
Originally a BNPL-focused startup, Valu rebranded in 2023 to offer a broader range of consumer finance products. The company was last publicly valued at $247 million in 2022 after securing a $12.4 million investment from Saudi Arabia’s Alhokair family.
For the EGX, which has struggled with liquidity issues in recent years, Valu’s listing could be a game-changer. The exchange has been actively pushing for more listings to deepen the market, while the Egyptian government has rolled out policies to attract foreign investors. The timing appears favorable—after a slow 2024 with just two IPOs, Egypt’s economy is stabilizing, thanks to a floated Egyptian Pound and easing inflation.
Valu’s IPO could be a much-needed boost for the EGX, which has historically relied on real estate listings. If investor sentiment remains strong, this move might not only succeed but also set the stage for more fintechs to go public. Other African nations could take cues from Egypt, where a mix of clear regulations, government-backed digital initiatives, and thriving tech hubs is making IPOs a viable growth path for startups.
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