Consumer Finance mylo Completes A Second $37.2M Securitization
💸 That’s a Big Check
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mylo is a Cairo-based fintech firm that helps shoppers buy electronics and appliances through monthly installment plans.
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mylo is a fintech subsidiary of B.TECH.
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They just finalized their second securitization issuance, raising $37.2 million (1.76 billion EGP).
🏠 Buying Made Easy
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In Egypt, many families find it difficult to pay for expensive household items all at once.
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mylo offers BNPL plans, providing the credit needed for these big-ticket purchases without the long wait times of a traditional bank.
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Giving people more purchasing power makes the entire market more active.
🤝 Better Partnerships
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The firm works directly with major retailers to offer financing right at the point of sale.
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They use their own tech to score credit quickly, which keeps approval rates high and risk levels low.
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This integration means customers don't have to leave the store or the app to get a loan.
📈 Scaling Up
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The new funds will help settle existing debts and open up a fresh pool of cash for thousands of new consumer loans.
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They are planning to add more digital payment options, and advance BNPL feature to their app to make the user experience smoother.
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Expanding merchant network is the next major goal as they look to reach more shopper user base across the country.