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5 Alternative financing platforms digitising lending space in Egypt

By Delisha Fernandes

March 13, 2024

  • AI
  • Alternative Financing
  • Blnk
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Alternative financing, lending, SME Lending, SME Financing, AI, LendTech, P2P lending, Instant Lending, Digital Lending, FinTech news, FinTech EgyptAlternative financing platforms in Egypt are revolutionising the lending landscape by introducing innovative digital solutions to the traditional borrowing process. These platforms leverage technology to streamline lending operations, making access to capital more efficient and inclusive.

Through online marketplaces and peer-to-peer lending models, individuals and businesses can now secure loans with incredible speed and flexibility, bypassing the constraints of traditional banking systems.

With a focus on leveraging data analytics and digital payment solutions, these platforms are reshaping the financial ecosystem in Egypt, empowering borrowers and investors alike while fostering economic growth and financial inclusion in the country.

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

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 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 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 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 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.

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