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UAE Fintech Kema Raises $2M Pre-Seed Funding for B2B Sales Transformation

Jonathan Wong

Jonathan Wong

14 February 2024

Kema, a UAE-based finance platform founded by Michael Ghandour, secures a $2 million pre-seed investment led by Dubai Foundation District Fund (DFDF) and Speedinvest. Kema aims to revolutionize B2B sales through digitalization and automation of the accounts receivable process, enhancing cash flow for businesses.

The financing will enable Kema to deploy its SaaS platform for the SME market, recruit top talent for expansion, and scale its solution across the UAE. Despite the UAE's commercial payments exceeding $1.5 trillion, B2B SMEs face complexities and inefficiencies in financial operations.

Founder and CEO Michael Ghandour emphasizes the challenges B2B SMEs face due to manual workflows and payment delays. Co-founder and CTO Akash Rao highlights the significant amount of trapped working capital in the region and Kema's mission to address this funding gap by leveraging technology.

Kema's private beta version has already facilitated over AED 16.5 million in invoices since Q2 2023, with plans to streamline the receivables process by up to 50%. The platform offers easy integration with major accounting apps and features to optimize cash flow and invoicing processes for businesses.