Egyptian fintech startup oliv has achieved a significant milestone by securing the country’s first digital factoring license from the Financial Regulatory Authority (FRA). This landmark achievement positions oliv at the forefront of digital financial services in Egypt.
oliv specializes in digital invoice financing, catering to small and medium-sized businesses (SMBs). The company’s innovative service model minimizes manual interactions and requires no technological infrastructure from clients, enabling them to receive funding in less than 48 hours. This streamlined approach significantly enhances the efficiency and accessibility of financial services for SMBs.
The digital factoring license granted by the FRA is the first business lending license issued under the fintech law number five of 2022 and the FRA decree 268 of 2023. These regulations are specifically designed for venture-backed fintech companies, allowing oliv to offer fully digital factoring and reverse-factoring services to businesses across Egypt.
This unique license allows us to directly finance SMEs from our balance sheet with the simplest and fastest digital experience in the market. We are currently in strategic partnership discussions with several local banks and venture debt providers to diversify our funding sources and further support local SMEs with our innovative product.
Hatem Sabry, oliv’s CFO
oliv’s strategic vision includes expanding its factoring services to over 5,000 clients by 2028. This ambitious goal underscores the company’s commitment to fostering financial inclusion and supporting the growth of SMBs in Egypt through cutting-edge financial solutions.
