Tuesday July 23rd, 2024
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UAE-Based Fintech Comfi Secures $5 Million Debt Facility

The funding will support the continued deployment of its embedded pay-later and pay-now solution B2B supply-chain businesses.

Startup Scene

 UAE-Based Fintech Comfi Secures $5 Million Debt Facility

Comfi, a B2B payment platform based in the UAE, has secured a $5 million debt facility from an Abu Dhabi-based private family office. This substantial investment is a crucial milestone for Comfi, as it aims to enhance its presence and transform B2B transactions in both the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA). 

"This substantial funding, alongside backing from a reputable Emirati family office, will allow Comfi to sign up more B2B companies and support their growth and success in their industries,” Sanjar Samiev, CEO of Comfi, tells StartupScene. “We are committed to leveraging our advanced technology and strategic partnerships to drive innovation and foster financial inclusion in the UAE and KSA."

The funding will support the continued deployment of its embedded pay-later and pay-now solution, designed specifically for B2B supply-chain businesses. This solution allows business owners to provide real-time credit terms of up to 90 days to their customers. The $5 million debt facility is projected to enable Comfi to facilitate approximately $40 million worth of B2B transactions across the UAE and KSA within the next year.

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