Latest news with #SMEfinancing
Wamda
22-07-2025
- Business
- Wamda
Egypt's Flend secures $3 million seed to expand digital SME financing
Egypt-based fintech Flend has secured $3 million in seed funding through a blended equity and debt round. The equity was led by Egypt Ventures, with participation from Camel Ventures, Sukna Ventures, Plus VC, Banque Misr, and family offices including El Sewedy and Baalbaki. Debt financing was provided by MSMEDA and local banks. Founded by Ahmed Zaki, Nehal Helmy and Saif Edeen El Bendari, Flend is an FRA-licensed Digital NBFI, offering fully digital short-term working capital loans to SMEs through embedded finance and direct integration with 20+ supply chain platforms in sectors like agri-food, e-commerce, and healthcare. The funding will support Flend's goal to inject EGP 1 billion in SME loans within a year, expand its team and partnerships, and enhance its tech infrastructure to close Egypt's $50 billion SME financing gap. Press release: Egypt's digital SME lending platform Flend has announced the successful closure of its $3 million seed funding round, a mix of equity and debt. The equity round was led by Egypt Ventures, with participation from Camel Ventures, Sukna Ventures, Plus VC, Banque Misr, and prominent family offices including El Sewedy and Baalbaki. On the debt side, Flend secured funding from MSMEDA and several local banking partners. Licensed by Egypt's Financial Regulatory Authority (FRA) as a Digital Non-Banking Financial Institution (Digital NBFI), Flend enables fully digital lending for SMEs, from onboarding and credit scoring to disbursement and collections, all through digitally binding contracts. With over 20 embedded partnerships, Flend integrates directly into platforms that serve SME supply chains across sectors like agri-food, healthcare, e-commerce, manufacturing, retail, and export. The platform plans to inject EGP 1 billion in working capital loans over the coming year, targeting Egypt's $50 billion SME financing gap. 'This round allows us to finance SMEs where they do business—within the platforms that drive Egypt's economy,' said Ahmed Zaki, Co-Founder and CEO of Flend. 'We've seen rising demand and are ready to scale our reach.' Hasan Haider, Founder and Managing Partner at Plus VC, commented: 'Flend is solving a major regional challenge—making SME finance digital-first, embedded, and accessible.'
Zawya
21-07-2025
- Business
- Zawya
Beehive and Direct Debit System partnership fuels $1bln in digital SME funding
Dubai, UAE: Direct Debit System (DDS), the fintech platform for automated collections, licensed by the UAE Central Bank, is celebrating its one-year partnership with Beehive, the first peer-to-peer lending platform in the MENA region to be regulated by the DFSA. The milestone comes as Beehive surpasses USD 1 billion in SME financing across the GCC. The year of collaboration has enabled Beehive to execute collections and repayments in a paperless, secure, and instantly reconcilable environment, by replacing legacy cheque-based processes with DDS's fully digital direct debit solution, powered by UAE PASS. 'Reaching the USD 1 billion milestone is a testament to Beehive's commitment to fueling SME growth in this country,' said Vivek Harikrishnan, Head of Product & COO at DDS. 'Our direct debit integration eliminates the delays and risks inherent in manual cheque handling, meaning no more lost cheques, no more uncertainty over collection timing or signature mismatch. Beehive's finance team now enjoys end-to-end visibility, IBAN validation, the ability to postpone and retry collections digitally, automated notifications, and same-day reconciliation, so they can focus entirely on supporting SMEs in the UAE to scale their business.' Since integrating DDS's API-driven direct debit technology, Beehive has achieved a number of milestones to streamline processes. The platform has gone paperless, meaning that the entire loan disbursement and repayment cycle is now handled electronically, eliminating physical paperwork and courier delays. Operational hassles have been reduced with automated mandate management and UAE PASS authorisation, eliminating the need for manual signature hunting and drastically lowering back-office overheads. The reconciliation process has also been accelerated, with real-time transaction reporting and instant settlement data shortening reconciliation times from days to hours. Reflecting on the collaboration, Jason Stewart, Head of Partnerships and Products at Beehive, stated, 'At Beehive, we've always believed that SME finance should be fast, secure, and frictionless. Our partnership with DDS has allowed us to digitise and streamline a core part of that journey, collections and repayments.' About the Direct Debit System Direct Debit System is the UAE's first Central Bank–licensed platform offering digital, paperless direct-debit collections from bank accounts and credit cards. The solution automates recurring payments for school fees, rents, memberships, loan repayments, and more, replacing cheques, unnecessary credit card charges, and manual follow-ups with a secure, bank-to-bank direct settlement process that simplifies cash flow management for businesses of all sizes. The Direct Debit solution is now widely used by educational institutions, real estate firms, service industries, as well as most of the leading alternative lending platforms. 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.
Khaleej Times
21-07-2025
- Business
- Khaleej Times
Beehive and Direct Debit System partnership fuels $1 billion in digital SME funding
Direct Debit System (DDS), the fintech platform for automated collections, licensed by the UAE Central Bank, is celebrating its one-year partnership with Beehive, the first peer-to-peer lending platform in the MENA region to be regulated by the DFSA. The milestone comes as Beehive surpasses $1 billion in SME financing across the GCC. The year of collaboration has enabled Beehive to execute collections and repayments in a paperless, secure, and instantly reconcilable environment, by replacing legacy cheque-based processes with DDS's fully digital direct debit solution, powered by UAE PASS. "Reaching the $1 billion milestone is a testament to Beehive's commitment to fueling SME growth in this country," said Vivek Harikrishnan, head of product and COO at DDS. "Our direct debit integration eliminates the delays and risks inherent in manual cheque handling, meaning no more lost cheques, no more uncertainty over collection timing or signature mismatch. Beehive's finance team now enjoys end-to-end visibility, IBAN validation, the ability to postpone and retry collections digitally, automated notifications, and same-day reconciliation, so they can focus entirely on supporting SMEs in the UAE to scale their business." Since integrating DDS's API-driven direct debit technology, Beehive has achieved a number of milestones to streamline processes. The platform has gone paperless, meaning that the entire loan disbursement and repayment cycle is now handled electronically, eliminating physical paperwork and courier delays. Operational hassles have been reduced with automated mandate management and UAE PASS authorisation, eliminating the need for manual signature hunting and drastically lowering back-office overheads. The reconciliation process has also been accelerated, with real-time transaction reporting and instant settlement data shortening reconciliation times from days to hours. Reflecting on the collaboration, Jason Stewart, head of partnerships and products at Beehive, stated, "At Beehive, we've always believed that SME finance should be fast, secure, and frictionless. Our partnership with DDS has allowed us to digitise and streamline a core part of that journey, collections and repayments."
Wamda
14-07-2025
- Business
- Wamda
Sukna Capital secures CMA approval to offer flexible, non-dilutive SME financing
Saudi Arabia-based VC Sukna Capital has received CMA approval to launch the Sukna Fund for Direct Financing (SFDF), an open-ended, Sharia-compliant direct lending fund in MENA, unlocking flexible, non-dilutive capital access for SMEs across the Kingdom. The fund allows periodic investor liquidity and gives founders access to asset-backed financing without giving up equity, addressing critical funding gaps in underserved sectors and supporting Vision 2030 goals to boost SME lending. Backed by Sukna's proprietary tech infrastructure and a veteran team with over $6.5B in transaction experience, SFDF reflects a founder-aligned approach to private credit, with a mission to modernise institutional financing for the region's high-growth businesses. Press release: Sukna Capital has received official approval from the Saudi Capital Market Authority (CMA) to launch the Sukna Fund for Direct Financing. SFDF is KSA's first open-ended, sharia compliant direct lending fund—marking a regulatory milestone for non-bank financing in MENA. As a CMA-licensed alternative asset investment platform, Sukna is now authorised to offer institutional investors access to a vehicle that provides non-dilutive, scalable financing for small and medium-sized enterprises (SMEs) seeking accelerated growth without equity dilution. Unlike traditional private credit vehicles, the open-ended fund structure enables investors to enter and exit at regular intervals, offering periodic liquidity with no long lock-up periods. For SMEs, this unlocks access to asset-backed capital while enabling founders to retain complete ownership and avoid the limitations of equity financing. Fares Bardeesi, CEO of Sukna, described the launch as a pivotal step in expanding institutional credit access for underserved sectors across the region. With over two decades of experience in corporate finance and private investments, Fares has led more than USD 6.5 billion in transactions across real estate, technology, and healthcare. As a co-founder of Sukna Ventures and the architect behind Sukna's evolution into structured private debt, he emphasised the urgent need to close funding gaps for both traditional and innovation-led SMEs. 'As of Q3 2024, SME lending in Saudi Arabia is estimated to be SAR 329.23 billion—just 9.1% of total bank credit—well below the Vision 2030 target of 15 to 20 percent,' he noted. 'SFDF is designed to address that gap through institutional, regulator-aligned capital solutions tailored to the needs of high-potential businesses across sectors.' This announcement comes at a pivotal moment, as the Middle East's tech and startup landscape undergoes rapid transformation, while traditional funding structures have not kept pace with founders' evolving needs. Waleed Alballaa, Managing Partner of Sukna Ventures and member of the Fund's Investment Committee, underscored the importance of timing: 'The tech and startup ecosystem has matured significantly, but financing structures simply haven't caught up. We designed SFDF to meet founders where they are—with the right capital, at the right time, and without the red tape.' Waleed brings his unique, founder-centric perspective to the fund, shaped by over two decades at the intersection of technology, operations, and venture capital across Silicon Valley and Saudi Arabia. His deep technical foundation is complemented by a decade dedicated to venture capital, during which he was instrumental in launching multiple investment vehicles and serving on the boards of several prominent technology companies. His holistic experience gives him a firsthand understanding of the capital gaps that can hinder high-growth companies. The launch of SFDF builds on the success of Sukna Ventures, the firm's technology-focused investment arm, known for backing bold, high-growth startups in mobility, logistics, and digital marketplaces. Sukna also leverages proprietary technology to streamline loan origination, risk assessment, portfolio monitoring, and investor reporting, ensuring a transparent and scalable experience for both borrowers and institutional capital partners.
Independent Singapore
08-07-2025
- Business
- Independent Singapore
OCBC Targets $5B in loans for serial entrepreneurs
SINGAPORE: OCBC Bank has committed S$5 billion (US$3.9 billion) in financing by 2028 to support 'serial entrepreneurs.' These are founders who run multiple small and early-stage businesses in its main markets: Singapore, Malaysia, Hong Kong, and Indonesia. The bank's initiative began in Singapore in 2019. It officially launched in Malaysia in July 2025 after a nine-month pilot. OCBC plans to expand the programme to Hong Kong by the end of 2025 and to Indonesia afterwards. This is the first such offering by OCBC. It recognises that traditional SME financing models do not meet the needs of entrepreneurs managing several ventures. Rather than treating each business separately, OCBC considers the entrepreneur's overall history and group strategy. Each entrepreneur works with a dedicated relationship manager and receives help from in-house experts in cash management, corporate advisory, and wealth services. In a media statement, Anna Chang, head of middle market and services at OCBC's global commercial banking division, said, 'Serial entrepreneurs are often overlooked by the market. They face fragmented banking experiences, have to repeat their stories to multiple bankers, and receive limited credit despite strong overall performance.' Following a survey of more than 500 business owners from 2017 to 2018, OCBC discovered significant gaps in banking services for entrepreneurs managing multiple businesses. The survey found that one in three new businesses in Singapore was started by someone who already owned at least one company. Meanwhile, in Malaysia, almost half of OCBC's Malaysian SME clients were also found to be serial entrepreneurs. By the end of 2024, OCBC had provided over S$1.5 billion (US$1.1 billion) in financing to more than 1,800 serial entrepreneurs in Singapore and Malaysia, supporting over 8,000 companies. An additional S$3.5 billion (US$2.7 billion) is set aside to be deployed from 2025 to 2028. OCBC is also developing industry-specific solutions for sectors with high rates of serial entrepreneurship, including healthcare, education, and food and beverage. These solutions include working capital loans, venture funding, sustainable finance, M&A advisory, and cross-border expansion services. Chang noted that serial entrepreneurs often perform better in terms of credit than single-venture founders, with 30% lower default rates. 'Cross-portfolio visibility helps us spot early warning signs and reduce risk through communication,' she said. See also 9 local companies rank on Forbes Asia's 'Best Over A Billion' list Entrepreneurs will also be supported by a relationship manager who will help tailor specialists in cash management, corporate advisory, and wealth planning. 'At the heart of this is ambition,' Chang concluded. 'We've redesigned SME banking to empower founders to build, scale, and exit ventures with agility and confidence.'
