Egyptian Fintech oliv Secures First Digital Factoring License in Egypt
oliv, an Egyptian fintech company, has obtained the first digital factoring license in Egypt, issued by the Financial Regulatory Authority (FRA).
oliv offers a digital invoice financing service designed for small and medium-sized enterprises (SMEs), with a process that requires minimal manual interactions and no technological requirements from clients, providing financing in under 48 hours.
This digital factoring license is the first to be awarded under the Fintech Law No. 5 of 2022 and FRA Decree 268 of 2023, which supports fintech companies funded by venture capital funds. It enables oliv to provide fully digital factoring and reverse-factoring services to Egyptian businesses.
oliv aims to offer its factoring services to over 5,000 clients by 2028.
