Ahmed Essam Seoudy, Managing Director and CEO of TRU Finance, a consumer finance company operating in Egypt, announced that the sector is experiencing robust growth in demand for financing services. Seoudy revealed that the number of customers benefiting from consumer finance solutions nearly doubled in the first four months of 2025, underscoring the immense potential of this market within Egypt.
He noted that TRU Finance commenced its operations in December 2024, positioning itself to capitalize on the accelerating momentum of the consumer finance sector. Seoudy emphasized that the market has entered a stable regulatory phase following the issuance of the Consumer Finance Law by the Financial Regulatory Authority (FRA) in 2020, which has fostered a more structured and growth-driven environment for the industry.
According to FRA data cited by Seoudy, the consumer finance market in Egypt expanded from approximately EGP 17bn in 2021 to EGP 61bn in 2024—demonstrating a growth trajectory that nearly doubles every two years. He highlighted that the market remains far from saturation and continues to exhibit low levels of competition. In 2024, roughly 3.5 million consumers utilized financing services, while in just the first four months of 2025, over 2.5 million users were recorded—reflecting a staggering 200% year-on-year increase.
This surge in users has significantly outpaced the rise in financing volumes, indicating a rapidly growing consumer base and substantial headroom for further market development. Seoudy explained that TRU Finance offers a wide array of financing solutions covering home appliances, electronics, travel, tourism, healthcare, education, automobiles, and more. The company focuses on customizing its offerings to meet varied customer needs while providing flexible and innovative payment plans.
To date, TRU Finance has attracted more than 25,000 customers and completed nearly 30,000 financing transactions, reaching a total financing volume of approximately EGP 1.1bn by the end of June 2025. Seoudy added that the company’s mobile application has received international recognition, earning an award as one of the fastest-growing digital finance platforms.
The company aims to achieve profitability within the next two years, with a strategy centered on continuous expansion, forging strategic partnerships, and rolling out innovative financial products. Among its latest offerings is TRU Flex, which enables customers to choose between zero-interest plans or no administrative fees, with credit limits of up to EGP 500,000. Another product, TRU Plus, targets higher-value needs, providing up to EGP 10 million in loans for home finishing. Additionally, TRU Control—a unique innovation in the Egyptian market—allows users to modify their installment amounts or repayment periods directly through the app, granting real-time financial flexibility post-purchase.
Seoudy also announced a strategic partnership with Cylinder to streamline auto financing. The collaboration allows customers to receive financing approval in less than five minutes via the app, significantly reducing wait times and simplifying the vehicle purchasing process.
Currently, TRU Finance collaborates with 800 merchants and partners through more than 2,000 points of sale across Egypt. The company is pursuing horizontal expansion by increasing its network of commercial partners. Moreover, TRU is in talks with three to four local banks to secure direct funding and is working with EGBANK to transfer part of its portfolio—moves that aim to raise the company’s financing capacity to EGP 2bn in the near term.
Looking ahead, Seoudy stated that while TRU Finance remains focused on reinforcing its position in the domestic market, it plans to explore regional expansion by 2026. The company is particularly eyeing entry into the Saudi market, given its scale and advanced financial and technological infrastructure.
