Xpence The financial management platform empowering MENAP SMEs launches its expense management solution in the UAE

Xpence The financial management platform empowering MENAP SMEs launches its expense management solution in the UAE

Rapid regional expansion follows high demand for business banking services from SMEs

Abu Dhabi: Xpence - the MENAP regions first financial management platform with embedded business banking solutions for SMEs - announces the launch of its expense management solution in the UAE – the second of five strategic markets it plans to launch in over the next 18 months.

Announcing this latest market entry at the GITEX Global technology conference, Xpence is now issuing VISA cards in the UAE and Bahrain. Xpence is launching its services in the UAE in partnership with Visa. Xpence was one of the first fintechs in the region to join the Visa Fintech Fast track Programme in early 2019.

UAE businesses are ideally placed to benefit from Xpence's financial management platform. A highly digitized nation with near 100% internet penetration, the UAE is a leader of digital transformation across various industries. The country recorded over 70,000 new business licenses issued in 2021, yet many still face challenges in opening bank accounts or digitalizing their financial processes.

Built specifically to serve the 23+ million MENAP businesses that struggle to access financial services –which exposes them to vulnerable, cash-based processes – Xpence's UAE market entry will empower businesses with digital efficiency,