Dubai-based KEN Investments leads pioneering funding in US fintech start-up

SourceArabian Business
CountryUnited Arab Emirates

Dubai-based private equity fund KEN Investments is one of four groups to have ploughed $5.8 million into Salaryo, a fintech platform for US freelancers and start-ups. Headquartered in New York City with an R&D center in Tel Aviv, Salaryo graduated from the Barclays Techstars fintech accelerator in 2017. The move marks the first time an Emirati fund has participated in the funding round. "It took both sides a while to close this investment." said Kentaro Willam, CEO and manager of KEN Investments. "It is the first time we invest in Israeli technology, and Salaryo tackles a large, fast-growing market opportunity of US small businesses." They were joined in the funding round by Variant Investments, Techstars Ventures and Michael Ullmann’s investment group, bringing its total funding to $12m. The company plans to use the funds to grow its small more...