- oliv becomes the first company to secure Egypt’s fintech lending license under the FRA’s new fintech law.
- The platform offers digital factoring services to SMEs, addressing a USD 39 billion funding gap in Egypt.
- oliv aims to serve 5,000 clients by 2028, significantly scaling Egypt’s underdeveloped factoring industry.
oliv Redefines SME Financing in Egypt
Egyptian fintech startup oliv has achieved a groundbreaking milestone by securing the first digital factoring license under the Financial Regulatory Authority’s (FRA) fintech law. This landmark achievement empowers oliv to offer SMEs invoice factoring services entirely online, with funding delivered in less than 48 hours.
“This unique license allows us to directly finance SMEs from our balance sheet with the simplest and fastest digital experience in the market”.
Hatem Sabry, CFO at oliv
Focused on solving the USD 39 billion funding gap in Egypt’s SME sector, oliv’s innovative platform taps into the country’s Tax Authority e-invoicing system. Without requiring clients to adopt complex tech infrastructure, oliv simplifies access to much-needed working capital for the backbone of Egypt’s economy.
Closing Gaps in Egypt’s Fintech Ecosystem
The SME sector is pivotal to Egypt’s economy, contributing 43% of GDP and 75% of total employment. Yet, access to finance remains a persistent challenge. As of 2023, the factoring industry served only 605 clients—a mere 0.3% of GDP—according to FRA reports.
oliv’s digital-first approach aligns with Egypt’s broader efforts toward financial inclusion and digital transformation, spearheaded by government initiatives. Backed by regional heavyweight Algebra Ventures and USA-based Alter Global, oliv is well-positioned to disrupt traditional SME financing, providing faster, simpler, and more accessible solutions.
A Vision for Inclusive Growth
oliv’s future plans are ambitious. By 2028, the company aims to serve over 5,000 clients, growing Egypt’s factoring market exponentially. Collaborations with local banks and venture debt providers will ensure diverse funding sources, fueling its scalability.
The company’s tech partnerships with Link Data Centers and VLens ensure secure, compliant, and efficient operations. Its innovative use of digital identity verification and contracting capabilities sets a new benchmark for fintech services in Egypt.By democratizing access to financing, oliv is transforming the factoring landscape and giving SMEs a fair shot at growth. With this license, oliv signals a bold future where technology drives economic empowerment in Egypt and beyond.
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