NEOPAY and Deem Finance have partnered to give small and medium-sized UAE businesses easier access to working capital.

The deal joins NEOPAY’s embedded lending platform with Deem Finance’s regulated credit licence.

It uses merchants’ payment and point-of-sale data to create financing offers.

Deem Finance is licensed and regulated by the Central Bank of the UAE.

This lets eligible NEOPAY merchants get pre-qualified funding offers through the NEOPAY platform. There is no separate loan application.

NEOPAY checks merchants’ payment history to pre-qualify them for credit.

Deem Finance then reviews and approves the applications. Funds are then paid out digitally.

“This collaboration reflects our commitment to helping merchants unlock new opportunities, manage growth more effectively and focus on what they do best, running their businesses,”

said Vibhor Mundhada, Chief Executive Officer of NEOPAY.

“This partnership reflects Deem Finance’s continued focus on expanding access to responsible, regulated credit through strong ecosystem partnerships,”

said Zulfiqar Hamid, Interim Chief Executive Officer of Deem Finance.

The partnership brings a regulated lender into NEOPAY’s merchant network. This gives businesses a licensed credit option linked to their payment activity.

Deem Finance’s focus remains on growing access to regulated credit through partnerships like this.

Featured image: Edited by Fintech News UAE, based on image by NEOPAY and Deem Finance via its Press Release.