CAYESH, a fintech company specialized in serving supply chain stakeholders, and EFG Hermes Corp-Solutions, announced today the signing of a strategic partnership agreement to launch an innovative program enabling suppliers to finance their receivables using CAYESH technology.

Through the strategic partnership agreement, CAYESH and EFG Hermes Corp-Solutions shall be collaborating with corporate buyers and their suppliers to digitize their payment processes and enable receivables financing in a comprehensive program offered to companies of different sizes. The program aims to minimize physical and operational hassle through having a one-time-onboarding process and utilizing cutting-edge technology to validate and process financing requests.

“We are very excited to initiate our partnerships with financial institutions through this agreement with EFG Hermes. The management at EFG Hermes Corp-Solutions was receptive to the CAYESH business model and understanding to both the need and potential in the market,” said Adel Boseli, CAYESH Co-founder and Managing Partner. 

“CAYESH was built to leverage technology for all supply chain stakeholders, whether corporate buyers, suppliers, or financial institutions. We look forward to working with many more market players to digitize their processes, enable access to finance, and ease working capital stress”, said Mahmoud Hassan, CAYESH Co-founder. 

Talal El Ayat, CEO of EFG Hermes Corp-Solutions commented, “CAYESH deploys an innovative business model that eases financial burdens for all supply chain stakeholders. Through this agreement, we will be able to deliver tailored financial services in a fully digitized framework for the first time in the market. This partnership is another milestone in our track-record that has always brought innovative financial solutions that keep up with global trends to the local market.”

CAYESH is a fintech company for supply chain stakeholders facilitating availability, management, and mobilization of working capital. CAYESH optimizes supply chain financing through an integrated platform encompassing technology, expertise, and operations.

EFG Hermes Corp-Solutions is a leading company specialized in financial leasing and factoring services, formed through a merge between EFG Hermes Leasing and EFG Hermes Factoring following the Financial Regulatory Authority’s issuance of law no.176 for the year 2018.