Egyptian fintech Dayra has received a digital microfinance license from the Financial Regulatory Authority (FRA), allowing it to offer financing directly through digital platforms used by micro-businesses and gig workers.
Founded in 2021, Dayra builds embedded financial infrastructure for businesses and their customers and workforces. It partners with B2B marketplaces, gig platforms, logistics companies and payment gateways to integrate financing into existing digital services.
According to the announcement, Dayra is Egypt’s first licensed embedded digital microfinance provider. The approval allows it to expand its partnerships and offer inventory financing, working capital, capital expenditure financing and earned income access through partner platforms.
The fintech uses transactional and behavioral data generated through users’ activity on those platforms to develop alternative credit assessments for micro-businesses and individuals with limited access to traditional financial services.
“This license allows us to scale a model we have been building for years,” said Omar Ekram, Dayra’s co-founder and CEO. Co-founder and COO Hana Zaghloul said the approval provides the regulatory foundation to make financing a native feature of the platforms where Egypt’s micro-businesses and workers earn, sell and transact.
Dayra is also developing AI-native workflows using locally deployed models trained with its proprietary data as it expands its financial services infrastructure across Egypt.
Source: Waya
