Orion Consumer Finance (algo), a partnership between Talaat Moustafa Group (TMG) and AUR Leasing and Factoring, announced that it has received approval from the Financial Regulatory Authority (FRA) to operate in the consumer finance sector, after fulfilling all regulatory requirements set by the Authority. This step reflects the state’s direction toward expanding non-banking financial services and enhancing financial inclusion.
In this context, the two founding partners, Mr. Ashraf Salman and Mr. Mohamed Hisham Talaat Moustafa, emphasized that obtaining the license marks a pivotal milestone toward launching the product in the market. They noted that the FRA’s approval – under the leadership of Dr. Mohamed Farid, Chairman of the Authority – demonstrates confidence in the company’s business model and its ability to deliver innovative financing solutions aligned with the highest standards of governance and regulatory compliance.
For his part, Mr. Amir Soliman, Founder and CEO of Orion Consumer Finance (algo), stated:
“We aim to bring a qualitative shift in the concept of consumer finance by meeting all customer needs through flexible, fast, and secure financing solutions with non-traditional, hassle-free procedures. We also seek to redefine how individuals access financial services and manage their money through an integrated platform powered by advanced analytics.”
The Company’s future strategy focuses on launching algo, the signature SuperApp, designed as a lifestyle-driven consumer finance platform. The app will create an integrated ecosystem that supports financing for TMG products, boosting demand while enhancing affordability for a premium lifestyle. Through AI-powered credit solutions, the app will deliver seamless, instant customer experiences, embodying a forward-looking vision of smart and simple financing. This initiative aligns fully with TMG’s commitment to offering state-of-the-art, technology-led solutions that elevate the client experience.