Comfi lands $5M debt facility to fund B2B payments across UAE and Saudi
What's the deal? Comfi, a UAE-based B2B payments platform, has secured a $5 million debt facility from an Abu Dhabi private family office. The company plans to use the financing to expand its pay-later and pay-now product across the UAE and Saudi Arabia.
What's the endgame? Comfi lets distributors and suppliers automate receivables and offer credit terms of up to 90 days to their clients. The facility is meant to onboard more B2B companies onto that integrated platform.
Why now? The $5 million will allow Comfi to execute an estimated $40 million worth of B2B transactions across the UAE and Saudi Arabia over the next year, according to the company.
What they said: "This substantial funding, alongside backing from a reputable Emirati family office, will allow Comfi to sign up more B2B companies and support their growth," said chief executive officer Sanjar Samiev.
The signal: Debt financing — rather than equity — is a common route for fintechs that lend to customers, letting them fund transaction volume without diluting ownership. Comfi is betting that credit terms remain a pain point for supply-chain businesses across two of the Gulf's largest markets.
Read more: startuprise.org
Image credit: photohome_uk
