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Upfront Secures $10 Million to Grow Financial Operating System for MENA SMBs
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PYMNTS.com
Dubai-based FinTech startup Upfront secured $10 million in a pre-seed round to grow its “next-generation financial operating system” for small- to medium-sized businesses (SMBs) in the Middle East and North Africa (MENA) region.
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The platform integrates with accounting software and provides real-time financial analytics, automates receivables, orchestrates payments and unlocks working capital, per the release.
“Cash flow inefficiencies are one of the biggest growth bottlenecks for SMBs in MENA,” Upfront co-founder and CEO Anas Qudah said in the release.
In March, CredibleX said it would integrate Mastercard’s Small Business Credit Analytics into its embedded financing platform to improve financial inclusion for SMBs across the UAE.