Mylo Completes EGP 1.76 Billion Securitization Bond Issuance
Mylo, the innovative fintech company emerging from B.TECH, has successfully closed
its second securitization bond issuance worth EGP 1.76 billion after securing all necessary
regulatory approvals This achievement underscores Mylo’s robust financial position and
commitment to sustainable digital finance solutions that align with responsible fintech practices
The bond issuance includes multiple tranches with a 12-month maturity, and EG Bank has been
designated as the bond custodian This new issuance follows the success of the company’s first
bond issue, further demonstrating Mylo’s ability to diversify its funding sources and provide growth
capital for its Shariah-compliant consumer finance portfolio
Mohamed Khattab, CEO of Mylo, commented on the milestone
Successfully concluding our second securitization bond issuance is a major step forward
for Mylo It reflects the trust financial institutions have in the strength of our business model
and the quality of our financing portfolio This milestone further supports our long-term vision
of establishing sustainable funding channels that allow us to expand the reach of our digital finance
solutions Khattab highlighted that this new issuance will play a pivotal role in Mylo’s upcoming
expansion plans The company aims to scale its user base, broaden its merchant and brand
partnerships, and make strategic investments in its technology infrastructure to enhance its
platform’s capabilities
A Leader in Shariah-Compliant Consumer Finance
Notably, is one of the first consumer finance companies in Egypt to receive approval
from the Financial Regulatory Authority for fully digital onboarding, coupled with a fintech
license The company provides flexible financing solutions with terms of up to 48 months
available through a network of over 5,000 brands across more than 15 categories
With this move, continues to lead the digital consumer finance revolution in Egypt
offering an innovative alternative to traditional financing solutions and playing a pivotal role
in advancing financial inclusion
