UAE’s Fundbot Closes $1.5 Million Seed Roud
Founded in 2020 by Karl Abou Zeid, Fundbot was developed to help entrepreneurs with their cash flow issues.
UAE-based fintech Fundbot has concluded a $1.5 million Seed round led by Hambro Perks Oryx Fund, with further support from Aditum Investment Management Limited, Flat6Labs, Middle East Venture Partners (MEVP), and PlusVC.
The company's intentions to expand in the Mena region—first in the UAE and Saudi Arabia, then onto Oman, Bahrain, and Egypt—will be bolstered by the fresh funding.
Founded in 2020 by Karl Abou Zeid, Fundbot was developed to help entrepreneurs with their cash flow issues.
It provides an entirely automated, end-to-end embedded solution that improves supply chain finance efficiency and aids banks, FinTechs, and B2B marketplaces, which reduces the need for manual involvement.
Moreover, Fundbot can facilitate the creation of new revenue streams for these enterprises by providing quicker and more effective financing.
In addition, Fundbot offers small- and medium-sized enterprises (SMEs) flexible financing solutions, greatly increases their purchasing power, and makes it possible for smaller companies to take advantage of opportunities, deal with unforeseen costs, or profit from market trends.