International Holding Company (IHC), a global investment firm based in Abu Dhabi, has announced the completion of its acquisition of eFunder, a private financing platform in the UAE that focuses on SMEs.

The platform has been rebranded as Zelo, signalling a new phase aimed at expanding its reach and improving access to capital for businesses across the region.

Zelo is fully licensed and regulated by the Financial Services Regulatory Authority (FSRA) under Abu Dhabi Global Market (ADGM).

Since its launch in August 2020, it has provided receivables-based funding to address the persistent working capital challenges faced by SMEs in the region.

The platform allows approved invoices to be converted into working capital within 24 to 48 hours through a digital-first process.

The acquisition aligns with IHC’s broader strategy to invest in technologies that support economic resilience and growth.

It also comes in response to the estimated US$250 billion SME credit gap in the Middle East and North Africa.

In the UAE, SMEs represent more than 95% of registered businesses and contribute over half of the national gross domestic product, yet many face payment delays of up to 120 days for approved invoices.

“SMEs are the backbone of a diversified and future-ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs, access to timely working capital,”

said Syed Basar Shueb, CEO of IHC.

“This rebrand signals a confident new chapter, one that is fully aligned with IHC’s long-term vision of building smart, scalable solutions and dynamic value networks that deliver real and lasting economic impact.”

Zelo aims to address these payment delays through a digital platform designed for efficiency.

It offers an entirely online onboarding process, automated funding decisions, and fast access to liquidity.

The platform’s credit limits adjust in line with business performance, providing a flexible financing option.

“Zelo exists to eliminate the wait. The wait for payments, the wait for growth, the wait for opportunity,”

said Dhanush Arjun, CEO of Zelo.

“Our rebrand signals not just a new name, but a renewed commitment to SMEs in the UAE who deserve faster, smarter access to capital. With IHC’s strategic backing, we are accelerating that future.”

The company continues to be led by eFunder’s co-founders, Dhanush Arjun as CEO and Deepak Sekar as COO, supported by a team with experience in fintech, SME lending, and digital infrastructure.

Since its inception, the platform has facilitated over 9,000 transactions and deployed more than US$200 million in funding.

Featured image credit: Edited by Fintech News Middle East, based on image by wirestock via Freepik