عربى

Drive

 

was licensed as a factoring service company in 3Q12, and today extends its services to a well-diversified client base, ranging from business-to-business (SMEs) to business-to-consumer (retail), which includes auto loans to end consumers.

 

Drive has grown steadily since its establishment, making remarkable strides in market presence and carving a place for itself in the very competitive automotive financing sector since inception. Drive anticipates a further boost to its operations after factoring regulations expanded the scope of operations to allow both business-toconsumer and business-to-business.

 

The company has a well-developed portfolio, offers medium-term tenors, and focuses on risk diversification by finance product types, client base, and automotive brands. Drive finances sales of GB Auto’s passenger cars out of the company’s showrooms and also transacts with key independent dealers in the company’s network. Drive is non-exclusive to GB Auto and offers a multitude of financial solutions for various SMEs and consumers.

 

Drive is regulated by and operates under the auspices of the EFSA. As per the EFSA, at year end 2016 Drive ranked as the third factoring company in Egypt with a market share of 18.72%, rising to second as at March 2017, with a market share of 20.86%.