Abu Dhabi-based investment platform 2PointZero, gearing up for a potential stock market listing this year, is making a significant move into the North African financial technology space. Its portfolio company, Maseera Holding for Financial Investments, a subsidiary of International Holding Company (IHC), has successfully acquired ADVA, an Egyptian fintech firm specializing in consumer finance. This strategic acquisition positions ADVA as Maseera’s technological and data analytics center for the region, signaling a determined push for expansion across underserved markets.
Founded in 2020, ADVA quickly established itself within Egypt’s burgeoning fintech sector by offering tailored financing solutions for essential services like healthcare and education. The company carved a niche by focusing on Egypt’s middle- and low-income populations, demographics often overlooked by traditional banking institutions. ADVA’s innovative approach hinges on its proprietary artificial intelligence-driven credit scoring system, which utilizes alternative data sources, including mobile usage patterns, to assess the creditworthiness of first-time borrowers. This allows ADVA to extend financial access to a significant portion of the Egyptian population previously excluded from formal financial services.
The acquisition by Maseera is a direct result of 2PointZero’s ambitious growth strategy. Earlier this year, the investment platform, which boasts over $27 billion in assets, committed $1 billion in long-term capital to Maseera with the explicit goal of creating a transcontinental financial inclusion platform. The initial focus is on key underserved markets globally, and the acquisition of ADVA represents a crucial first step in this direction.
“In ADVA, we found a company that shares our vision and values, particularly the belief that financial services must be accessible, affordable, and human-centered,” stated Amro Abouesh, CEO of Maseera. “Together, we will harness the power of data and AI to deliver transformative financial solutions tailored to Egypt’s middle and low-income segments.”
The integration of Maseera’s advanced AI technologies with ADVA’s existing platform promises to reshape the digital finance landscape in Egypt. The combined entity aims to offer faster, more inclusive, and highly personalized lending solutions for underserved populations. This development aligns with ADVA’s application for Egypt’s first digital consumer finance license, a regulatory advancement that will enable fully digital onboarding through electronic Know Your Customer (e-KYC) procedures and legally binding e-signatures. This license has the potential to significantly reduce barriers to financial access for over 50 million underbanked Egyptians, a key objective of the nation’s financial inclusion and digital transformation agenda.
Following the acquisition, ADVA will concentrate exclusively on Egypt’s consumer finance market, developing specific financial products for essential life needs and improving credit access for historically marginalized groups. This move not only aligns with Egypt’s national digital transformation goals but also reinforces Maseera’s, and by extension, 2PointZero’s, dedication to building sustainable, impact-driven platforms that empower communities and generate substantial value across emerging markets.
ADVA’s journey began in 2020, founded by Rania Gaafar, with a mission to provide installment payment options for a wide range of services and products. In 2022, the company secured a seed funding round from Sawari Ventures, an Egyptian venture capital firm that recognized ADVA’s potential to disrupt the consumer lending market. Ahmed El-Alfi, Founder and Chairman of Sawari Ventures, at the time noted the investment as a “genuine opportunity for collaboration between startups and major financial institutions,” anticipating a significant leap in fintech development within Egypt.
2PointZero, established in 2023 by IHC, aggregates a diverse portfolio of UAE subsidiaries across key sectors, including financial services, consumer goods, mining resources, technology, and energy. The platform’s ambition extends beyond the UAE, with CEO Mariam bint Mohammed Almheiri highlighting growth opportunities in Asia, Latin America, and Africa. The acquisition of ADVA underscores this global outlook, particularly towards the African continent.
The move by 2PointZero comes at a time when the Middle East and North Africa region is witnessing increasing activity in the fintech sector. Notably, another IPO-bound startup, the Dubai-based Dubizzle Group, valued at $1 billion, recently acquired Egyptian online car marketplace Hatla2ee, signaling a growing appetite for consolidation and expansion within the digital economy. As 2PointZero prepares for its potential IPO in Abu Dhabi, the acquisition of ADVA demonstrates a clear strategy to build a robust and diversified portfolio with a strong foothold in emerging markets, particularly within the rapidly evolving financial technology landscape. The focus on financial inclusion in a significant market like Egypt positions 2PointZero and Maseera to potentially capitalize on a large and underserved population.