Beehive hits USD 1 Billion in SME funding, accelerating growth across the GCC
DUBAI, UAE, May 29, 2025 /PRNewswire/ -- Beehive, the region's leading digital SME (small and medium-sized businesses) lending platform, has reached a landmark milestone by underwriting over USD 1 billion in SME funding across the MENA region.
This achievement follows Beehive's recently closed structured funding agreement of USD 140 million with institutional partners. The agreement enables Beehive to significantly scale its funding capacity, reinforcing its position as the lender of first resort for SMEs outside the traditional banking system.
Since its inception, Beehive has supported the growth of over 2,100 SMEs across the UAE, Saudi Arabia, and Oman, disbursing more than USD 1 billion in SME financing. With a mission to bridge the region's USD 250 billion SME funding gap, Beehive continues to empower businesses through swift, digital, and accessible financing solutions.
"This milestone is more than a number—it reflects the real impact we've made on thousands of businesses across the region," said Craig Moore, Founder and CEO of Beehive. "With the support of our institutional and banking partners, we are accelerating our efforts to provide meaningful capital to the SMEs driving economic growth."
As Beehive continues to grow, it remains firmly committed to providing SMEs with the capital they need to scale, innovate, and succeed.
About Beehive:
Founded in 2014, Beehive is the first peer-to-peer lending platform in the MENA region to be regulated by the DFSA. Headquartered in Dubai, Beehive connects businesses seeking finance with investors willing to support their growth, offering a faster, more affordable funding option for SMEs. Through technology and a commitment to supporting regional businesses, Beehive has become a trusted partner for SMEs across the GCC. Learn more at https://www.beehive.ae/
Photo - https://mma.prnewswire.com/media/2697921/Beehive.jpg
View original content to download multimedia:https://www.prnewswire.com/news-releases/beehive-hits-usd-1-billion-in-sme-funding-accelerating-growth-across-the-gcc-302467320.html
SOURCE Beehive
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
HORIZON PETROLEUM PROVIDES AN OPERATIONS UPDATE OF ITS PREPARATION FOR FIRST PRODUCTION IN POLAND
CALGARY, AB, June 1, 2025 /PRNewswire/ - Horizon Petroleum Ltd. (the "Company" or "Horizon") (TSXV: HPL) (FRA: HPM) (Tradegate: HPM) is pleased to provide an operations update on progress made towards first production from its cornerstone Lachowice gas development in the Bielsko-Biala concession, southern Poland. David Winter, CEO of the Horizon commented: " We are pleased with the continuing progress in our operations towards first production from the Lachowice 7 well. Board and Management recognise the efforts of our operating team in Poland in ensuring that the initial development program is executed as planned. We also recognise the very positive relationships that we enjoy with our neighbours at Lachowice, and the positive contributions from our contractors, local authorities and government. We look forward to our continuing work with all stakeholders and will update shareholders as the initial development program progresses". Assuming a successful workover result, gas and/or electrical power sales from the Lachowice 7 (L7) well will provide the Company with its first cashflow and will provide a long-term test of the production performance of the naturally fractured, Devonian aged, limestone and dolomite reservoirs in the L7 well. Preparatory work for the L7 workover is progressing on schedule: The Environmental Impact Assessment (EIA) Permit for the L7 workover has been approved by the Ministry of Climate and the Environment (the "Ministry"). With the funds from the recent successful debenture financing, long lead time materials and services have been sourced and ordered with expected deliveries in August and September. These materials include the tubing, wellhead and completion equipment. The Company has received confirmation from its electrical contractor that the local utility company will move the power line that crosses the L7 wellsite by the end of June. Final civil engineering design for the wellsite and access road has been completed and tendering for the construction works to be awarded in the next 3-4 weeks. Wellsite and access road construction to commence in July once the above-mentioned electricity line has been moved. The Company is working with a local service provider to choose the appropriate rig for the workover, now scheduled to commence in September with long-term production testing of the well in October. Early Production System (EPF) The Company continues the work towards finalizing the early production scheme for the initial development at the L7 well following the workover and testing. As previously disclosed, the Company contracted a local electrical engineering company and a mechanical engineering company to review options to monetize gas production from the initial development at L7 and the full field development Lachowice gas field. The reviews and investigations are largely completed: Gas to Power: The company has identified two access points into the local electricity transmission grids. The first with 2MW capacity is located with 300m of the L7 wellsite. The second with 4MW capacity is located approximately 1km from the L7 wellsite. Horizon has made an application to secure the 2MW capacity that will be the first tie-in point for G2P. The company continues to work towards securing the 4MW at the second location. The preliminary design of the gas processing facility that will be required to separate the liquid condensate and any free water from the L7 gas stream has been completed. The Company has commenced sourcing the required vessels and other process equipment. Work on the EIA for the production facility is underway targeting submission in mid-June. Full Field Development Plan The Company has commenced the preliminary work for the EIA for the planned 100km2 3D seismic survey over the Lachowice gas field. A third-party evaluation has identified a high-pressure gas network tie-in point approximately 14 km northeast of L7, half the distance of the previous plan, which will result in reduced pipeline costs and faster approvals. Takeaway capacities have been confirmed and are consistent with Horizon's short and long-term forecast production volumes. The Company has commenced discussions with pipeline operator and owner to secure access and pipeline capacity. The Company will shortly commence the initial work on the EIA for the full field development facility site and commence the process to rezone the land for industrial use. Lachowice 7 Well Workover Operations Program The L7 workover is scheduled to be conducted in September/October of this year subject to receiving the necessary long lead items, equipment and services as planned. A detailed program has been completed and application to the Polish Mining authority for the program will be submitted shortly. The workover program will consist of: Upgrade the wellhead to execute the workover and eventual production. Drill out a surface cement plug and downhole mechanical plug in the wellbore. Pressure test the existing well casing to ensure wellbore security and integrity Drill and recover an existing packer located above the zone that originally tested up to 8.9mmscf/d gas Reperforate, acid stimulation and production test of this same zone Complete the well for production in anticipation of the EPF to be installed on site in first half 2026. The Company is targeting gas/electricity sales and first cash flow by the first half of 2026. About Horizon Petroleum Ltd. Calgary-based Horizon is focused on the appraisal and development of natural gas and oil reserves in Europe. The Management and Board of Horizon consist of oil & gas professionals with significant international experience. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" or "forward-looking information" (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Horizon. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This press release contains forward-looking statements pertaining to, among other things the timing of re-entry of the well, the moving of the infrastructure in the area, timing of sales gas, and other operational matters in this news release, all of which are subject to change. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Horizon and described in the forward-looking information contained in this press release. Although Horizon believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. View original content to download multimedia: SOURCE Horizon Petroleum Ltd. Sign in to access your portfolio
Yahoo
4 hours ago
- Yahoo
Joby Aviation (NYSE:JOBY) Appoints Rodrigo Brumana As CFO
Joby Aviation recently marked a pivotal achievement with the successful dual aircraft flight, underscoring advancements in its eVTOL technology. This, coupled with the appointment of Rodrigo Brumana as CFO, aligns with Joby's strategic growth efforts. Despite a net loss of USD 82 million reported in its Q1 2025 earnings, the company's share price increased by 21% over the last quarter. This surge in stock value places JOBY's performance well above the general market's 1.7% rise over the past seven days and reflects investor confidence amid its ongoing partnerships and technological milestones. We've spotted 5 weaknesses for Joby Aviation you should be aware of, and 1 of them is a bit unpleasant. We've found 19 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Joby Aviation's shares delivered a total return of 60.57% over the past year, significantly outperforming both the US market's 11.6% and the US Airlines industry's 16.6% returns in the same period. This reflects robust investor enthusiasm despite the company's current unprofitable status and ambitious growth goals. The company's recent releases, such as the dual aircraft flight and partnerships with industry leaders, could potentially drive revenue growth forecasts, albeit with prevailing profitability challenges. Analysts expect revenue to grow at a substantial rate of 65.5% annually, though Joby remains forecasted to be unprofitable for the next three years. These developments indicate a strong market presence, although maintaining investor confidence will depend on meeting or exceeding these growth expectations. Despite the market optimism reflected in the share price surge, the current price is slightly higher than the consensus analyst target of US$7.75, suggesting limited upside based on current estimates. The recent insider selling may also influence perceptions of valuation risks ahead. As Joby continues its technological advancements and expansions, investors will likely monitor execution risks closely. Navigate through the intricacies of Joby Aviation with our comprehensive balance sheet health report here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:JOBY. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Yahoo
Joby Aviation (NYSE:JOBY) Appoints Rodrigo Brumana As CFO
Joby Aviation recently marked a pivotal achievement with the successful dual aircraft flight, underscoring advancements in its eVTOL technology. This, coupled with the appointment of Rodrigo Brumana as CFO, aligns with Joby's strategic growth efforts. Despite a net loss of USD 82 million reported in its Q1 2025 earnings, the company's share price increased by 21% over the last quarter. This surge in stock value places JOBY's performance well above the general market's 1.7% rise over the past seven days and reflects investor confidence amid its ongoing partnerships and technological milestones. We've spotted 5 weaknesses for Joby Aviation you should be aware of, and 1 of them is a bit unpleasant. We've found 19 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Joby Aviation's shares delivered a total return of 60.57% over the past year, significantly outperforming both the US market's 11.6% and the US Airlines industry's 16.6% returns in the same period. This reflects robust investor enthusiasm despite the company's current unprofitable status and ambitious growth goals. The company's recent releases, such as the dual aircraft flight and partnerships with industry leaders, could potentially drive revenue growth forecasts, albeit with prevailing profitability challenges. Analysts expect revenue to grow at a substantial rate of 65.5% annually, though Joby remains forecasted to be unprofitable for the next three years. These developments indicate a strong market presence, although maintaining investor confidence will depend on meeting or exceeding these growth expectations. Despite the market optimism reflected in the share price surge, the current price is slightly higher than the consensus analyst target of US$7.75, suggesting limited upside based on current estimates. The recent insider selling may also influence perceptions of valuation risks ahead. As Joby continues its technological advancements and expansions, investors will likely monitor execution risks closely. Navigate through the intricacies of Joby Aviation with our comprehensive balance sheet health report here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:JOBY. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
