Global investment firm IHC finalized its purchase of eFunder and transformed the UAE small business financing platform into Zelo. The rebranded entity continues serving enterprises through receivables-based funding solutions under regulatory oversight from ADGM's Financial Services Regulatory Authority. Zelo converts approved invoices into immediate working capital within two business days through digital processing systems. The platform targets a regional credit shortage affecting small and medium enterprises worth approximately $250 billion across Middle Eastern and North African markets. Small businesses represent over 95 percent of registered UAE companies while contributing more than half the nation's gross domestic product.
Payment delays spanning two to four months restrict operational flexibility for regional enterprises across construction, logistics, healthcare, industrial services and energy sectors. Zelo eliminates cash flow interruptions through automated funding decisions and streamlined digital onboarding procedures. The financial technology company has processed more than 9,000 transactions while distributing over $200 million since operations began in August 2020. Co-founders Dhanush Arjun and Deepak Sekar maintain leadership roles as chief executive and chief operating officer, respectively.
Payment delays spanning two to four months restrict operational flexibility for regional enterprises across construction, logistics, healthcare, industrial services and energy sectors. Zelo eliminates cash flow interruptions through automated funding decisions and streamlined digital onboarding procedures. The financial technology company has processed more than 9,000 transactions while distributing over $200 million since operations began in August 2020. Co-founders Dhanush Arjun and Deepak Sekar maintain leadership roles as chief executive and chief operating officer, respectively.
