Comfi, a B2B embedded finance platform, has raised US$65 million in a Pre-Series A funding round comprising equity and debt.
The equity portion was led by Iliad Partners and included participation from Yango Ventures and Raw Ventures, both of which are making their first investments in the region.
The round also includes a credit facility from Partners for Growth and a mezzanine facility structured by Shorooq, with participation from a family office.
Founded in 2023 and headquartered in the UAE, Comfi was established by Sanjar Samiev, Alisher Akbarov, Amal Abdullaev and Denis Gavrilin.
The founding team has experience in fintech product development, operations scaling and engineering, with a focus on SME cash flow constraints.
The company addresses extended B2B payment cycles, which can restrict SMEs’ access to working capital.
Its Buy Now Pay Later (BNPL) product allows SME suppliers to offer up to 90-day payment terms to customers while receiving payment within 24 hours.
Sanjar Samiev, co-founder and CEO of Comfi, said:
“This Pre-Series A round gives us the resources to scale our products, strengthen our regional partnerships, and expand access to fast, reliable working capital across MENA.”
Comfi says it has processed more than 15,000 invoices, works with over 4,000 finance leaders and serves more than 1,000 clients.
The company will use the funding to scale its underwriting and risk capabilities, expand its product offering, and accelerate its expansion across MENA.
Featured image credit: Comfi press release
