UAE-based fintech Comfi has secured a $5 million debt facility from an undisclosed Abu Dhabi-based private family office to fuel the rollout of its embedded pay-later and pay-now solution.
Founded in 2023 by Alisher Akbarov, Amal Abdullaev, Sanjar Samiev and Sanjar Samiev, Comfi is a B2B payments platform that empowers manufacturers and suppliers with flexible payment solutions for their buyers, while ensuring upfront payments.
Sanjar Samiev, CEO of Comfi, stated, “This substantial funding, alongside backing from a reputable Emirati family office, will allow Comfi to sign up more B2B companies and support their growth and success in their industries. We are committed to leveraging our advanced technology and strategic partnerships to drive innovation and foster financial inclusion in the UAE and KSA.”
This significant investment marks a pivotal moment for Comfi as it continues to expand its footprint and revolutionize B2B transactions in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA).
The pay-later and pay-now solution, which has been adapted for B2B supply-chain businesses allows business owners to offer credit terms for up to 90 days to their customers in real-time.
The $5 million debt facility will enable Comfi to facilitate an estimated $40 million worth of B2B transactions across the UAE and KSA over the next year, further solidifying its position as a leader in the B2B payments industry.