mylo Secures EGP 1.76B in Second Securitisation, Fuelling Fintech Expansion

mylo, the fintech venture that grew out of B.TECH, has wrapped up its second securitisation bond issuance, this time valued at EGP 1.76 billion. The regulatory green light came through recently, paving the way for a deal that signals both confidence in the company’s financial footing and its appetite for scaling digital finance in a sustainable way. I remember chatting with several early-stage founders at an Arageek community event last year who said bonds felt like “a bit of a faff” for young companies — clearly, mylo is proving that idea a bit outdated.

This latest issuance includes tranches with a 12‑month maturity, with EG Bank stepping in as the bond custodian. It follows on from the success of their first securitisation, and it seems to underline mylo’s efforts to widen its funding channels while continuing to build its Shariah‑compliant consumer finance offerings. I reckon that kind of diversification is spot on for the current climate, especially with fintech competition heating up across Egypt.

Mohamed Khattab, the company’s CEO, described the closing of the deal as “a significant milestone in mylo’s journey,” noting that it reflects the trust institutions have placed in the company’s model and the quality of its financing portfolio. He also emphasised that this move will help secure long-term, sustainable funding routes to push its digital solutions even further.

According to Khattab, the new capital is set to power the next stage of expansion. That means growing the user base, bringing more merchants and brands into the fold, and investing more heavily in the platform’s technology infrastructure. On the flip side, scaling tech at this pace can be a headache — well… I mean, anyone who’s worked with legacy systems knows it’s not always smooth sailing.

It’s worth remembering that mylo is among the first consumer finance players in Egypt to win approval from the Financial Regulatory Authority for fully digital onboarding, paired with a fintech licence. The company now offers instalment plans stretching up to 48 months across more than 5,000 brands in 15 categories — which, believe it or not, puts it in a pretty unique spot in the local market. And if you’ve ever spoken to small retailers in Cairo’s tighter, more traditional neighbourhoods, you’ll know just how much demand there is for flexible digital finance, even if some still spell fintech as “fintch” by mistake — and I’ve definately seen that written on a shop banner once.

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