UAE-Based Fintech Startup Fortis Closes $20 Million Series A Round

Fortis, a UAE-based fintech company founded in 2023 by Alberto Caruso, has recently closed a significant Series A funding round at $20 million led by Opportunity Venture (Asia). This investment comes as Fortis relocates its headquarters to the UAE in 2024, focusing on providing a comprehensive point-of-sale (POS) and customer relationship management (CRM) solution tailored for small businesses.

The company's aim is to enable these businesses to seamlessly accept both offline and online payments, streamlining their operations in the process. Fortis looks to empower entrepreneurs by offering tools to manage transactions, streamline orders, implement loyalty programs, and operate businesses efficiently. As Fortis expands its operations in the UAE, it is committed to supporting local businesses by facilitating revenue generation through simplified connections between merchants and customers.

"We are thrilled to have secured this significant investment, which will enable us to accelerate our growth and deliver even greater value to businesses in the MENA region," Alberto Caruso, Fortis Digital Solutions CEO and Founder, tells StartupScene. "We are committed to leveraging this funding to develop progressive solutions and provide unparalleled support to our clients as they navigate the rapidly evolving retail and fintech landscape."

Fortis has outlined several key areas where the raised funds will be allocated. These include the development of customer-centric services with a focus on user experience (UX/UI) design and seamless integration with external platforms. Additionally, strategic partnerships with banks, payment systems, and B2B services will be forged to enhance Fortis' innovative solutions. The company will also prioritize omnichannel development to ensure a smooth user experience across various touchpoints, thereby increasing customer engagement. Moreover, a portion of the investment will go towards brand-building activities to boost market visibility and credibility, while also enabling the expansion of Fortis' presence in the MENA region through talent acquisition.