Flend, a tech-driven financing platform dedicated to Small and Medium Enterprises (SMEs), has achieved a major milestone by obtaining the Financial Regulatory Authority (FRA) Digital Non-Bank Financial Institution (NBFI) license for SME Finance. This achievement positions Flend as a leader in revolutionizing SME financing through technology-driven solutions like digital contracts and e-signatures.

Flend’s data-first approach and innovative model set it apart in addressing the critical SME financing gap in Egypt, estimated at over $50 billion, according to the IFC.

Streamlining SME Financing

The FRA’s support for digital NBFI licenses reflects its commitment to fostering innovation and creating a more inclusive financial ecosystem. With this license, Flend offers SMEs significant benefits, including competitive financing rates, robust legal recourse, and access to affordable local bank funding.

“We are delighted to be the first to secure the Financial Regulatory Authority (FRA) Digital Non-Bank Financial Institution (NBFI) license, with a focus on SME Finance,” said Nehal Helmy, Co-Founder and Chief Strategy Officer at Flend. “Our strategy at Flend is to transform the SME financing landscape by addressing the critical need for fair, fast, and flexible SME financing, leveraging proprietary technology to provide seamless onboarding, advanced risk assessments, and efficient loan disbursements. We are confident by obtaining this license we can replace the cumbersome paperwork with digital contracts and e-signatures, cut approval times from weeks to days, and ensure a transparent and efficient experience tailored to SMEs.”

Bridging the Financing Gap with Innovative Solutions

Flend’s approach prioritizes scalability and sustainability. Through a data-driven infrastructure, the company reduces customer acquisition costs, enhances loan servicing, and establishes strategic partnerships with e-commerce platforms, payment service providers, and logistics companies. These collaborations ensure SMEs have easier and faster access to financing, empowering them to grow.

Nehal Helmy emphasized the potential impact: “This license ensures the highest standards of governance, strong legal recourse on borrowers, and enables us to deliver unparalleled value to SMEs, helping them bridge the financing gap effectively.”

Driving Economic Growth

Flend’s innovative solutions are backed by a strong network of investors, including Plus VC, Banque Misr, Digital Finance Holding, and prominent family offices in the region. This support underscores the platform’s potential to drive economic growth across key industries by empowering SMEs with agile and reliable financing.

Flend’s foundation is built on the vision and expertise of a diverse team with backgrounds in finance, technology, government, and entrepreneurship. This depth of experience enables the company to craft tailored solutions that address the unique challenges faced by SMEs in Egypt.

As Flend continues to build on its achievements, it paves the way for a future where SMEs can thrive through fair, fast, and flexible financing solutions.