UAE fintech Aura companions with Reem Finance to enhance SME money stream  

The partnership is ready to deal with the substantial credit score hole dealing with SMEs within the UAE, in step with Aura’s purpose of providing prompt entry to funds by means of bill discounting.

Aura mentioned its answer is especially very important in a market the place over 50 p.c of B2B transactions are performed on commerce credit score, typically with prolonged cost phrases that hinder SME development.

The settlement envisages offering SMEs with quick cost on their invoices by means of Aura’s bill financing function.

This provision will alleviate money stream constraints for SMEs, whereas allowing shopper firms as much as 120 days for cost.

Reem Finance permits quicker SME payouts

Moreover, with Reem Finance serving because the lender of file, Aura is positioned to supply quicker payouts to SMEs.

This setup not solely ensures compliance with regulatory requirements but in addition enhances the effectivity of monetary companies offered to small and medium enterprises.

Samer El Mardini, Co-Founding father of Aura, mentioned the pact with Reem Finance marks a big milestone within the firm’s efforts to revolutionise SME financing within the UAE.

“Leveraging their capabilities and license, we are able to scale successfully,” he mentioned.

Seraj Faidi, CEO of Reem Finance, mentioned the corporate’s monetary companies platform is designed to help fintech platforms like Aura.

“Collectively, we intention to considerably impression the native economic system by empowering SMEs with the monetary instruments they want,” he mentioned.