Yuze, a UAE-based FinTech focused on SMEs has successfully raised $30m in a funding round led by Osten Investments.
According to Finextra Research, the investment aims to propel the company’s expansion into new markets.
Specialising in a digital platform that caters to SMEs, e-traders, and freelancers, Yuze offers an array of financial services. These services include business accounts and card programmes, which are facilitated through strategic partnerships with banks and other financial institutions.
With the new funding, Yuze plans to extend its reach beyond the UAE, targeting one million SMEs and professional customers within the next five years. The company is set on breaking down the barriers that SMEs and independent professionals encounter when trying to access essential financial services.
Further information from the press release indicates that Yuze is committed to advancing financial inclusion and setting new standards within the industry. The investment from Osten Investments not only underlines the potential of Yuze’s business model but also strengthens its capability to enhance service offerings and achieve its ambitious growth objectives.
Yuze CEO Rabih Sfeir commented on the funding, “This investment not only validates our mission but also enhances our ability to expand beyond the UAE and improve our offerings. Our goal is to remove the barriers that SMEs and independent professionals face in accessing financial services, and we are making significant progress towards that. We are working towards setting new industry standards and advancing financial inclusion for all.”
This funding round marks a significant step in Yuze’s journey, following previous investments that have helped establish its footprint in the FinTech sector.