Latest news with #fintech
Bloomberg
3 hours ago
- Business
- Bloomberg
Joe & the Juice to Implement Adyen's Payment Tech
Joe & the Juice is expanding its partnership with fintech platform Adyen to make its payment experience frictionless for customers. Joe & the Juice CTO Nicoli Schnack and Adyen North America President Davi Strazza have more on the partnership. (Source: Bloomberg)
Arabian Business
3 hours ago
- Business
- Arabian Business
IHC acquires UAE fintech eFunder, rebrands it as Zelo to tackle $250bn SME funding gap
International Holding Company (IHC) has completed the acquisition of eFunder, the UAE's pioneering private SME financing platform, and announced its rebrand as Zelo. The move signals a major strategic push to close the region's $250bn SME funding gap through technology-driven financial solutions. Fully licensed and regulated by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA), Zelo has been operating since August 2020. The platform delivers fast, receivables-based working capital to small and medium-sized enterprises (SMEs) by converting approved invoices into liquidity within 24 to 48 hours. Zelo to offer UAE SME funding To date, Zelo has facilitated more than 9,000 transactions and deployed more than AED735m ($200m) in funding, offering SMEs a powerful alternative to traditional financing and reducing the impact of delayed payments. Following the acquisition, Zelo will operate as part of IHC's broader fintech and future-economy portfolio, with a mandate to scale impact across key sectors such as: Construction Logistics Healthcare Industrial services Oil and gas Syed Basar Shueb, CEO of IHC, said: 'SMEs are the backbone of a diversified and future-ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital. 'This rebrand signals a confident new chapter, one that is fully aligned with IHC's long-term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact.' The UAE's SMEs represent over 95 per cent of registered businesses and generate more than 50 per cent of GDP, yet many face payment delays of 60 to 120 days. Zelo's platform eliminates that friction through fully digital onboarding, automated funding decisions, and near-instant capital access. It also dynamically scales funding limits based on business performance. Dhanush Arjun, CEO of Zelo, said: 'Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. Our rebrand signals not just a new name, but a renewed commitment to SMEs in the UAE who deserve faster, smarter access to capital. With IHC's strategic backing, we're accelerating that future.' With strong regulatory backing, proven impact, and the strategic support of IHC, Zelo is poised to become a cornerstone of the UAE's SME ecosystem—enabling faster growth, stronger cash flow, and smarter financial agility for thousands of businesses across the region.
Yahoo
6 hours ago
- Business
- Yahoo
Pagaya Technologies (PGY): A Bull Case Theory
We came across a bullish thesis on Pagaya Technologies on MVC Investing's Substack by M. V. Cunha. As of 14ᵗʰ July, Pagaya Technologies's share was trading at $23.69. PGY's forward P/E was 47.38 according to Yahoo Finance. A businessman holding a check approving a loan while standing in front of a bank's lobby. Pagaya Technologies operates a B2B2C fintech platform leveraging AI to underwrite consumer credit at scale. The company's core business revolves around using proprietary AI models to assess credit applications, enable seamless loan origination through banking partners, and monetize the process via fee income tied to both underwriting and capital markets activities. Pagaya's model is asset-light, fee-driven, and data-centric, positioning it as a 'technology-first enabler' in the lending ecosystem. The company has built a differentiated, scalable, and capital-efficient model to serve the next generation of consumer credit. By combining AI decision-making with capital markets execution, Pagaya monetizes the full underwriting to funding lifecycle while avoiding the credit risk burden of a traditional lender. Pagaya's business model is becoming both more profitable and more resilient as it matures, with a shift toward more capital-efficient structures and a greater reliance on embedded partnerships with banks and fintechs. Pagaya's Q1 2025 results represent a decisive inflection point, with the company emerging as a self-funded, highly efficient operating model with strong earnings momentum. The company's financial performance, including a record $290M in revenue and $80M in adjusted EBITDA, underscores a powerful narrative of monetizing loan volume more efficiently, with FRLPC margins hitting all-time highs, operating leverage expanding, and GAAP profitability arriving ahead of schedule. Previously, we covered a bullish thesis on Pagaya Technologies by Unconventional Value on February 12, 2025, which highlighted the company's potential to transform the U.S. consumer credit markets using AI. The stock has appreciated by 109.46% since our coverage, as the thesis played out with the company originating over $26 billion in loans and capturing about 70% of the personal loan ABS market. M. V. Cunha shares a similar view, emphasizing Pagaya's scalable and capital-efficient model, which has led to a record $290M in revenue and $80M in adjusted EBITDA in Q1 2025. Pagaya Technologies is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held PGY at the end of first quarter which was 24 in the previous quarter. While we acknowledge the risk and potential of PGY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to Blackrock. Disclosure: None.
Zawya
6 hours ago
- Business
- Zawya
IHC aompletes acquisition of eFunder and rebrands the platform as Zelo
IHC rebrands eFunder as Zelo following acquisition. Zelo, the UAE's premier invoice financing platform, targets one of the region's biggest financing gaps — a USD 250 billion SME credit shortfall across MENA. The strategic rebrand of Zelo reinforces IHC's commitment to fintech innovation and advancing SME enablement. Abu Dhabi, United Arab Emirates: IHC, a global investment company focused on building dynamic value networks, today announced that it has completed the acquisition of eFunder, the UAE's pioneering private financing platform for small and medium-sized enterprises (SMEs). The platform has now been rebranded as Zelo, marking a new chapter in its evolution, aimed at scaling its impact and expanding access to capital for the region's most dynamic businesses. Fully licensed and regulated by ADGM's Financial Services Regulatory Authority (FSRA), Zelo has been operating since August 2020, delivering receivables-based funding to address the region's SME working capital gap. Zelo provides fast, digital-first access to liquidity by converting approved invoices into working capital within 24 to 48 hours. Following the acquisition by IHC, Zelo now enters a new chapter as part of IHC's broader commitment to enabling future-ready economies through responsible investment and fintech innovation. The platform addresses one of the region's most pressing challenges: a nearly USD 250 billion SME credit gap across the Middle East and North Africa. While SMEs account for over 95% of the UAE's registered businesses and generate more than half of national GDP, many face delays of 60 to 120 days in receiving payment for approved invoices restricting growth and operational agility. Zelo bridges this gap by offering a seamless, technology-driven platform for invoice financing across priority industries, including construction, logistics, healthcare, industrial services, and oil & gas. Syed Basar Shueb, CEO of IHC, said: 'SMEs are the backbone of a diversified and future-ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital. This rebrand signals a confident new chapter, one that is fully aligned with IHC's long-term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact.' Dhanush Arjun, CEO of Zelo, noted: 'Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity. Our rebrand signals not just a new name, but a renewed commitment to SMEs in the UAE who deserve faster, smarter access to capital. With IHC's strategic backing, we're accelerating that future.' Zelo's platform is purpose-built for speed and simplicity, offering a fully digital onboarding experience, automated funding decisions, and near-instant access to capital, eliminating cash flow delays and accelerating reinvestment into growth. The platform also scales financing limits in line with business performance, creating a responsive and frictionless funding experience. Zelo's operations continue to be led by the co-founders of eFunder – Dhanush Arjun (CEO) and Deepak Sekar (COO), supported by a seasoned group of professionals with deep expertise in fintech, SME lending, and digital infrastructure. To date, the platform has facilitated over 9,000 transactions and deployed more than USD 200 million in funding, a testament to its impact and scalability within the region's SME ecosystem. About Zelo Zelo (formerly eFunder) is a private financing platform operating under ADGM FSRA regulations. The platform specializes in fast, flexible, and fully digital invoice financing and revenue-based financing for SMEs. Zelo has funded over 9,000 transactions and supported businesses with over USD 200 million in capital deployed, empowering growth across the UAE's most vital sectors. About IHC Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world's largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC's commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more. IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts. At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment. Media Contacts Simon Hailes Managing Director, Head of Edelman Smithfield Middle East IHC@
Finextra
7 hours ago
- Business
- Finextra
Dakota raises $12.5m to bring banking into the internet age
Dakota Funding has raised $12.5 million in Series A funding to help it realise its goal of changing how banks work in the Internet Age. Dakota wants to help banks adapt to digital demands faster by giving them tools that are easy to use and can grow with their needs. 1 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This Dakota Series A Funding round shows that strong investor confidence in fintech solutions that put simplicity, speed, and user experience first. Dakota, the crypto-integrated business banking platform, today announced it has raised $12.5 million in a Series A funding round led by CoinFund, with participation from 6th Man Ventures (6MV) and Triton Ventures. The new capital will accelerate Dakota's mission to build the world's first globally accessible business bank account, combining the speed and transparency of stablecoins with the safety of U.S. Treasuries to enable modern, borderless finance. Founded by veterans from Coinbase, Square, and Airbnb, Dakota is reimagining how businesses move and store money across borders. Its platform enables companies to hold and transfer funds across USD or stablecoins while accessing familiar payment rails, such as ACH, Fedwire, SWIFT, and SEPA. Behind the scenes, Dakota leverages blockchain technology to enable near-instant, verifiable transfers, keeping customer funds fully reserved and under the client's control. Since launching in 2023, Dakota has already attracted over 500 business customers – from tech startups to international nonprofits – processing billions of dollars in annualized transaction volume. By using stablecoins as settlement rails and backing deposits 1:1 with U.S. Treasuries, Dakota eliminates the counterparty and liquidity risks that have plagued traditional banks, especially in the wake of recent crises like the Silicon Valley Bank collapse. 'Companies are increasingly default global and they're being hamstrung by slow wire transfers, limited banking access, and the reality that once money goes into a bank, customers lose control,' said Ryan Bozarth, CEO and co-founder of Dakota. 'Our goal with Dakota is to bring banking into the internet age — giving businesses the ability to move money as instantly and freely as information travels, without sacrificing security or compliance.' The timing couldn't be better. In the U.S., Congress is making meaningful progress on stablecoin legislation, with bipartisan support coalescing around frameworks like the GENIUS Act, signaling long-awaited regulatory clarity for dollar-backed digital assets. Globally, jurisdictions from the EU to Hong Kong are following suit, accelerating the shift toward compliant, mainstream adoption. Major incumbents are taking notice. Payments giant Stripe recently acquired stablecoin startup Privy and Bridge, while PayPal has launched its own stablecoin to keep pace with evolving market demands. These moves underscore how stablecoins are becoming an integral part of modern payments, offering businesses 24/7, borderless money movement at a fraction of the cost of traditional methods. 'We believe stablecoins can revolutionize business banking,' said Alex Felix, CIO of CoinFund. 'Dakota is unlocking that potential by combining the familiarity of a bank account with the power of crypto rails. They're not asking mainstream businesses to change how they operate — they're upgrading the engine under the hood.' With the Series A money in hand, Dakota is expanding its product suite and geographic reach. The startup recently rolled out corporate cards, allowing clients to spend their funds via virtual cards while setting custom spend controls for their teams. It also added support for the international SWIFT and SEPA payment networks, on top of its existing U.S. ACH and wire capabilities, aiming to make sending money abroad as simple as a domestic transfer. Dakota is broadening its onboarding to customers across 100+ jurisdictions, including in the UK, EU (under MiCA regulations), Singapore, and Latin America. 'Business today is borderless, and dollars are a universal language,' notes Bozarth. 'We want to give entrepreneurs from Bogotá to Bangalore the same access to U.S. dollar banking that a startup in San Francisco would have.' From a user perspective, Dakota feels like a typical fintech app; the blockchain complexity stays under the hood. Clients can send or receive payments via regular bank accounts without handling crypto directly, as Dakota seamlessly converts funds to and from stablecoins behind the scenes. Dakota is betting on a comprehensive approach, blending global payment rails, multi-currency treasury management, and globally available corporate cards, will set it apart. The founding team's pedigree lends it credibility in both camps: Bozarth and his colleagues built security systems that safeguarded over $100 billion in digital assets, and also helped scale consumer platforms to millions of users. That mix of experience may prove valuable as they navigate the complex intersection of banking and blockchain. Dakota's leadership is focusing on execution: growing its customer base, securing more banking partnerships, and continuing to invest in compliance and regulatory efforts. The company is betting that in a few years, startups will routinely hold dollars on-chain and send payments worldwide in seconds, as easily as sending an email. If that vision pans out, Dakota could emerge as one of the pioneers of stablecoin-powered banking. And thanks to its new funding, it has a running start in that race. Businesses can get started today at and experience modern banking built for the internet age. With Dakota Funding now secured, the company is set to transform traditional banking infrastructure through digital-first innovation backed by its $12.5M Series A round.
