Fintech start-up gets Fundbot raises $1.5m from Abu-Dhabi led consortium

Fintech start-up gets Fundbot raises $1.5m from Abu-Dhabi led consortium

Fundbot, a FinTech startup that automates corporate lending and payments between banks, buyers, and sellers, announced today that it has …

The post Fintech start-up gets Fundbot raises $1.5m from Abu-Dhabi led consortium appeared first on TahawulTech.com. Fundbot, a FinTech startup that automates corporate lending and payments between banks, buyers, and sellers, announced today that it has raised a US$1.5 million seed-funding round led by MENA based VC Hambro Perks Oryx Fund, with further support from, Aditum Investment Management Limited, Flat6Labs, Middle East Venture Partners (MEVP), and PlusVC.

The company targets significant expansion in the MENA region, initially in the UAE and Saudi Arabia, and later into Oman, Bahrain and Egypt.

Created to address cash flow problems for start-ups, Fundbot offers a fully automated, end-to-end embedded solution that enhances the efficiency of supply chain finance and helps banks, FinTechs, and B2B marketplaces embed, and rapidly launch financial services.

“We are thrilled to have the support of these seasoned investors whose role goes beyond capital infusion to facilitating introductions to potential partners and clients, which contributes significantly to our scalability and market connectivity,” said Fundbot CEO, Karl Abou Zeid. “The region is home to 19 million SMEs, three quarters of which are suffering