Flend secures Egypt’s first digital NBFI license for SME finance

Flend receives Egypt’s first digital NBFI license for SMEs: Small and medium enterprises-focused financing solutions platform Flend secured the Financial Regulatory Authority’s (FRA) first digital NBFI license for SME finance, according to a statement (pdf).

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Flend? The company offers tech enabled, data driven financing solutions to SMEs in Egypt. “By introducing innovative digital contracts and e-signatures, Flend is revolutionizing how SMEs access financing, setting a new standard in the industry,” the release read.

The license will allow Flend to provide access to affordable local bank funding and competitive financing rates, while maintaining strong governance and legal recourse on borrowers.

Strong backing: The digital platform is backed by Plus VC, Banque Misr, Digital Finance Holding, as well as prominent family offices in the region.

What they said: “Our strategy at Flend is to transform the SME financing landscape by addressing critical need for fair, fast and flexible SME financing, leveraging proprietary technology to provide seamless onboarding, advanced risk assessments, and efficient loan disbursements,” co-founder Nehal Helmy said.