Erada Finance Signs Strategic Partnership with Lumin Soft to Deliver a Fully Integrated Digital Financing Experience
Erada Finance, a leading provider of financing solutions for SMEs and microbusinesses, has signed a strategic partnership agreement with Lumin Soft, one of the Financial Regulatory Authority (FRA)–accredited providers of digital identity, eKYC, and digital contracting technologies. The agreement marks a key milestone in Erada’s digital transformation journey as the company advances toward securing its FinTech license and launching its upcoming digital application. Erada Finance is a strategic partnership between e& Egypt and The Sovereign Fund of Egypt, along with the company’s CEO, Mr. Amr Abou Elazm.
As part of the collaboration, Lumin Soft’s advanced digital identity and authentication tools will be fully integrated into Erada’s technology ecosystem. These include electronic identity verification, automated data extraction, document validation directly linked to regulatory systems, civil registry validation, and robust liveness checks to verify applicants’ identities. The partnership also provides digital contract management and e-signature capabilities, allowing customers to complete financing procedures seamlessly and efficiently without the need for paper-based interactions.
This development comes as Erada Finance nears its FinTech licensing phase, following FRA’s approval of Erada’s core banking system, Xfin. With Lumin Soft’s solutions embedded, the company is set to launch its digital financing application, enabling customers to submit financing requests, verify their identity, and sign financing contracts entirely online. The platform will offer fast, accurate, transparent, and secure financial services, reshaping how small businesses and entrepreneurs access financing in Egypt.
Commenting on the partnership, Amr Abou Elazm, CEO of Erada Finance, said: “This strategic partnership is a fundamental step in our journey to becoming a fully integrated FinTech provider. We are activating a digital ecosystem that places the customer at the center of the experience and delivers transparent, fast, and trusted financing solutions. Our collaboration with Lumin Soft enhances our ability to offer self-service digital financing in Egypt and paves the way for obtaining our FinTech license and launching our app, which will transform how projects and businesses access finance.”
Erada Finance aims to offer a fully digital experience for entrepreneurs, SME owners, and self-employed professionals seeking flexible, fast, and efficient financing solutions. The introduction of self-service digital applications represents a breakthrough in Egypt’s financing ecosystem, which has traditionally relied on physical documentation and field verifications.
Erada Finance noted that Lumin Soft’s advanced capabilities will deliver significant advantages, including faster application processing, reduced operational costs, enhanced security and compliance, and higher customer confidence. The partnership supports a broader strategic vision to position Erada as a leading provider of digital financing services in Egypt, promote financial inclusion, and enable small businesses and startups to access financing through simplified and secure digital channels.
Upon full implementation, Erada Finance expects to achieve several core outcomes: securing its FinTech license, launching its integrated digital application, and enabling customers to complete their entire financing journey through a mobile interface with a fully automated, fast, and synchronized experience across all stages.
Erada Finance received its operating license in late 2022 and has since focused on leveraging financial technology to expand access, reduce delivery costs, and improve service quality. Within three years, the company has expanded to 18 governorates with 97 branches, driving micro, small, and medium enterprise growth while fostering local employment and social responsibility. Erada Finance has issued more than EGP 2 billion in financing, serving over 85,000 customers, reinforcing its position as a leading financial solutions provider that empowers entrepreneurs and supports economic development.