FRA approves four startups to expand Egypt’s FinTech ecosystem

By Vriti Gothi

The Financial Regulatory Authority (FRA) has granted approvals for five companies to expand their footprint within the non-banking financial sector.

The approvals reflect the FRA’s ongoing commitment to fostering innovation, enhancing regulatory clarity, and driving inclusive, technology-enabled financial services across the country.

As part of this latest round of endorsements, Digified a registered outsourcing services provider has secured authorisation from the FRA’s specialised committee overseeing FinTech applications in non-banking financial activities. The approval enables Digified to broaden its service portfolio, adding digital contract execution for non-banking financial products alongside digital registration, preservation, and retrieval solutions. This expansion strengthens Digified’s position as a trusted enabler of secure, compliant, and streamlined digital transactions in line with Egypt’s wider financial inclusion objectives.

In parallel, the committee has endorsed the establishment of three promising FinTech startups: Nice Deer, Dayra, and iSupply. Each venture is set to contribute fresh digital capabilities and customer-centric solutions to the evolving non-banking financial landscape, further diversifying the ecosystem with innovative offerings tailored to emerging market needs.

The FRA also confirmed the renewal of VLens Company’s registration as an outsourcing services provider, reinforcing the authority’s commitment to supporting existing players that demonstrate continued compliance and a focus on technological advancement.

These approvals mark an important step towards building a more agile, transparent, and inclusive non-banking financial sector, aligned with Egypt’s vision for a digitally empowered economy. By unlocking new digital services and fostering entrepreneurial growth, the FRA aims to expand access to efficient, secure, and innovative financial solutions for individuals and businesses alike.

Looking ahead, the FRA remains dedicated to strengthening the regulatory framework, encouraging sustainable FinTech innovation, and ensuring that technology-driven growth continues to align with the highest standards of governance and customer trust.