UAE-Based UPFRONT Nets US$10 Million In Pre-Seed Round

Dubai-based fintech startup UPFRONT has raised US$10 million in a pre-seed round combining equity and debt that will be used to further its goal of helping tackle cashflow inefficiencies for small and medium-sized businesses (SMBs) across the MENA.  

The round was co-led by Dubai-based Palm Ventures, a regional venture capital firm, and Saudi Arabia’s SABAH.fund, an early-stage investor focused on high-growth tech startups, with participation from strategic angel investors. The fresh capital will go toward supporting UPFRONT's product development, team expansion in the UAE, and upcoming entry into Saudi Arabia.  

Founded by Anas Qudah, Abdullah Alghadouni, and Mahmoud Abdel-Fattah Moursy in the UAE in 2025, a team whose combined experience spans the Dubai-based ride-hailing platform Careem, the UAE-based online classifieds platform Dubizzle, the regional real estate marketplace Property Finder, the Saudi grocery delivery app Nana, and the Egyptian business-to-business (B2B) e-commerce platform Cartona, UPFRONT is building what it calls a financial operating system for SMBs in the region.  

In an interview with Inc. Arabia, Qudah, CEO of UPFRONT, broke down how his startup's platform functions as a financial operating system for businesses running their daily operations. In addition to providing “fully automated accounts receivables, from inception to collection," he explained, "UPFRONT integrates into enterprise resource planning (ERP) and customer relationship management (CRM) systems, pulls all relevant data (contracts, invoices, customers, etc.), and automates invoice creation, reminders, payment collection, accounting entries, and bank reconciliations.” 

Qudah also highlighted that the same level of automation extends to payables. “[It fully automates] accounts payable, with multiple payment options, payment links, open banking, etc. It also automates accounting entries back into the customer’s ERPs,” he said. “[It] predicts your cashflow needs and recommends funding options based on your dataset," he added, noting that it provides users with "proactive and fast cashflow whenever [it’s] needed.” 

Within six months of its founding, the UAE-based startup has already attracted regional and international investors, with it also signing a partnership with UAE-based CredibleX, an embedded finance platform that enables it to access flexible capital structures suited to SMBs with varying liquidity needs.  

That partnership comes against the backdrop of a widening funding gap for small businesses across the region. According to London-based asset-backed credit and structured finance firm Channel Capital Advisors LLP, the shortfall for SMBs in MENA is estimated at roughly $250 billion, driven largely by inefficient financial operations and delayed receivables in industries such as food and beverage, fast-moving consumer goods (FMCGs), retail, and manufacturing. 

As the company prepares to scale beyond its home base to Saudi Arabia, Qudah believes its model has global potential. “UPFRONT is absolutely exportable as we are tech-first, bridging the gap between B2B businesses and financing providers in a way that has never been done previously,” Qudah said. “Companies benefit from [undiluted] quick turnaround capital, and financing institutions can now fund B2B [businesses in ways that] they couldn't consider previously, as data and relevant information were not available for these lenders for such companies. This happens proactively, utilizing artificial intelligence (AI) and over two decades of hands-on financial experience.”  

For his peers in the fintech landscape, Qudah offered founders working to solve inefficiencies in legacy systems this piece of advice. “Trust is key," he said. "Understand your customer, and design a simple solution that can tackle the most complex issues, without the need to change your customer’s day-to-day behavior."  

Pictured in the lead image are UPFRONT co-founders Abdullah Alghadouni, Anas Qudah, and Mahmoud Abdel-Fattah Moursy. Image courtesy UPFRONT.