Abu Dhabi's International Holding Company (IHC) poured USD 715 mn into its digital financing platform Zelo to expand its financing services for SMEs, Reuters reports, citing a company statement. The funding will help Zelo fast-track additional anchor partnerships, allowing it to access a broader supply chain network, Zelo’s CEO Dhanush Arjun told the newswire. The firm aims to introduce liquidity into B2B supply chains and strengthen them to support SMEs.

REMEMBER- IHC completed its acquisition of eFunder and rebranded it as Zelo in July. Its co-founders Dhanush Arjun (LinkedIn) and Deepak Sekar (LinkedIn) currently oversee operations, as IHC plans to expand Zelo’s reach and scale it across MENA’s SME ecosystem.

About Zelo: The company aims to solve the delays regional SMEs often face in accessing funds by providing invoice financing through converting approved receivables into working capital within two days. It has funded over 12k transactions worth USD 225 mn across sectors, including oil and gas, construction, infrastructure, and retail, aiming to reach USD 1 bn in gross financing volume next year.

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