Abu Dhabi-based fintech Zelo, formerly eFunder, is turbocharging its mission to ease cash flow for small- and medium-sized businesses after securing $715 million from its parent, International Holding Company (IHC).
Zelo’s model is straightforward but impactful: it transforms approved invoices from government bodies, major corporates, and regional giants into working capital within just one to two days. For SMEs in the Middle East, where payment delays are notoriously long and traditional financing options scarce, this can be a lifeline.
Since its launch, Zelo has processed more than 12,000 transactions across sectors from oil and gas to retail, disbursing $225 million in total. The company is now setting its sights on hitting $1 billion in gross financing volume by 2026.
“We’re injecting liquidity directly into B2B supply chains,” said Zelo CEO Dhanush Arjun. “This strengthens the backbone of SMEs and boosts overall economic resilience.”
Arjun noted that IHC’s backing will accelerate the formation of key anchor partnerships, expanding Zelo’s reach across the region’s supply networks.
The need is clear: World Bank figures suggest a $210–240 billion funding gap for SMEs across the Middle East, with some estimates even higher. IHC CEO Syed Basar Shueb said the investment signals confidence in the region’s capacity to produce institutional-grade receivables and compete on the global private credit stage.
Zelo, regulated by Abu Dhabi’s ADGM, now stands poised to reshape SME financing in the UAE and beyond.
