5 Alternative financing platforms digitising lending space in Egypt

Let’s look at 5 Alternative financing platforms digitising the lending space in Egypt:

• Blnk

Blnk is a FinTech firm that provides lending, financing, affordability, commission, reporting and settlement, and e-commerce services. Blnk has developed a digital lending platform that empowers merchants of all sizes to instantly underwrite and finance their customers’ purchases at the point of sale. It enables consumers access to financing to purchase a range of products and services.

• Kashat

Kashat is a mobile application for nano lending in Egypt that offers instant short-term loans or micro-loans to small business owners. Customers can apply for a loan using their mobile phones, and receive the loan directly to their bank account.

• MoneyFellows

MoneyFellows is a collaborative Group Lending and Savings platform that allows users to pool their money with other users to create savings groups. MoneyFellows gives individuals access to interest free credit and better saving achievements, all fully powered by just their social network.

• MNT-Halan

MNT-Halan is Egypt-based fastest growing lender to the unbanked. It was created to digitally bank the unbanked and substitute cash with electronic solutions. MNT-Halan has obtained the micro, consumer and nano finance licenses from the Financial Regulatory Authority, enabling it to provide services to both businesses and consumers across Egypt. It has also obtained the first independent electronic wallet license from the Central Bank of Egypt to disburse, collect and transfer money digitally through mobile applications.

• Qardy

Qardy is an online lending marketplace in Egypt and MENA that allows financial institutions to fund MSMEs. Qardy offers the fastest and easiest access to financing through a fully-digital experience through partnership with top financial institutions in Egypt. Qardy aims to bridge the debt financing gap between financial institutions and MSMES, Whereby FIS will achieve financial inclusion while MSMEs grow their businesses via clear, efficient and hassle free experience.