UAE's Enhance secures $1.5M debt facility from Mohammed Bin Rashid Innovation Fund

What's the deal? EnhanceDealroom has a profile for this one. Try Dealroom →, a UAE-based fitness and technology scaleup, has secured an AED 5.5 million ($1.5 million) credit guarantee from the Mohammed Bin Rashid Innovation FundDealroom has a profile for this one. Try Dealroom → (MBRIF). The financing will support the company's continued expansion.

Who's behind it? MBRIF is an initiative launched by the Ministry of FinanceDealroom has a profile for this one. Try Dealroom → to support the innovation and entrepreneurship ecosystem in the UAE. It provided the credit guarantee as the deal's sole backer.

What's the endgame? Enhance operates at the intersection of fitness and technology. The debt facility is aimed at scaling its innovation in fitness tech across the country.

The signal: Government-backed financing for a fitness scaleup underscores the UAE's push to grow its home-grown innovation ecosystem through non-dilutive support rather than equity alone.

Read more: mid-east.info

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