UAE-based FinTech Yuze, which specialises in providing financial services to small and medium-sized enterprises (SMEs), has secured $30m in a recent funding round.
The investment was led by Osten Investments, according to Finextra.
Yuze offers a digital platform designed to meet the needs of SMEs, e-traders, and freelancers by providing business accounts and card programmes.
These services are delivered through strategic partnerships with banks and other financial institutions, making it easier for smaller businesses and independent professionals to access essential financial tools.
The newly raised $30m will be used to support Yuze’s plans for expansion beyond the UAE. The company aims to target a million SMEs and professional customers over the next five years as part of its ambitious growth strategy.
Rabih Sfeir, CEO of Yuze, said, “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 latest funding round positions Yuze to further its goal of setting new industry standards and driving financial inclusion, as it looks to expand its presence in new markets.
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