Yuze – UAE-based fintech start-up Yuze has successfully secured a substantial $30 million in funding from Osten Investments, marking a significant milestone in the company’s growth journey. This new capital injection is set to propel Yuze’s expansion into new markets and enhance its digital financial services platform.
Established in 2022, Yuze is revolutionizing financial management for freelancers and small to medium-sized enterprises (SMEs). The fintech start-up provides an extensive suite of services through its digital platform, including business accounts, bill payments, corporate expense cards, bank and peer-to-peer transfers, invoicing, and analytics tools. By leveraging partnerships with banks and financial institutions, Yuze aims to simplify and streamline financial operations for its users.
Rabih Sfeir, the founder and CEO of Yuze, highlighted the impact of this funding round, stating that it “not only validates our mission” but also “enhances our ability to expand beyond the UAE and improve our offerings.” He further emphasized the company’s commitment to dismantling the obstacles SMEs and independent professionals face when accessing financial services. Sfeir believes that the investment will significantly bolster their efforts to support up to 1 million SMEs and professionals over the next five years.
The additional funds will enable Yuze to broaden its product offerings, with exciting features such as enhanced card controls and cryptocurrency solutions on the horizon.
This expansion aligns with the company’s vision of providing cutting-edge financial tools to its growing user base.
Yuze’s recent announcement underscores the vibrant activity in the UAE fintech sector. The industry has witnessed considerable momentum, with recent innovations such as myZoi’s launch of a financial inclusion-focused digital wallet in July, featuring “one-to-many” transfer capabilities. Additionally, Thimsa, a fintech start-up focused on simplifying payment processes through open banking, unveiled its payment management platform in beta in the UAE and Bahrain earlier this year.
With this latest funding round, Yuze will significantly impact the fintech landscape and further establish itself as a key player in the UAE’s evolving financial services market.
