mylo, the innovative fintech company born out of B.TECH,has completed its second securitization bond issuance of EGP 1.76 billion after obtaining regulatory approvals. The transaction highlights mylo’s strong financial position and ongoing expansion in responsible, sustainable digital finance solutions.
The issuance comprises tranches with a 12-month maturity, with EG Bank acting as the bond custodian. It comes as a continuation of the success of the first issuance, underscoring mylo’s ability to diversify its funding sources and support the growth of its Shariah compliant consumer finance portfolio.
Commenting on the milestone, Mohamed Khattab, Chief Executive Officer of mylo: “Successfully closing our second securitization bond issuance marks a significant milestone in mylo’s journey. It reflects the confidence of financial institutions in the strength of our business model and the quality of our underlying financing portfolio, and it supports our vision of establishing sustainable funding channels that enable us to expand the reach of our digital solutions.”
Khattab noted that the issuance will fuel mylo’s next expansion phase. The company intends to grow its user base, expand its merchant and brand partnerships, and further invest in the platform’s technology infrastructure.
It is worth mentioning that mylo is among the first consumer finance companies in Egypt to receive the Financial Regulatory Authority’s approval for fully digital onboarding, alongside a fintech license. The company offers flexible installment solutions with terms of up to 48 months through a network of more than 5,000 brands across 15 categories.