Abu Dhabi-based Zelo, formerly known as eFunder, received USD 715 million in capital from its parent, International Holding Company, in November 2025. The latest capital will be used to expand the venture’s financing services for small- and medium-sized businesses. It is worth mentioning that IHC acquired Zelo, licensed and regulated by Abu Dhabi’s financial centre ADGM, in early 2025.
Zelo is known for providing small businesses and mid-tier suppliers with liquidity by converting approved invoices from government entities, large corporates and major regional businesses into working capital within one to two business days.
The model has been proven beneficial for the Gulf region’s SMEs, who used to face lengthy delays before being paid, apart from struggling to access traditional forms of financing. A World Bank report estimated the funding gap for the Middle East’s small to medium-sized enterprises at between USD 210 billion and USD 240 billion.
“While SMEs account for over 95% of the UAE’s registered businesses and generate more than half of the national GDP, many face delays of 60 to 120 days in receiving payment for approved invoices, restricting growth and operational agility. Zelo bridges this gap by offering a seamless, technology-driven platform for invoice financing across priority industries, including construction, logistics, healthcare, industrial services, and oil & gas,” reported TechAfrica News, while covering IHC’s takeover of the fintech startup in July 2025.
Zelo, to date, has funded over 12,000 transactions worth USD 225 million across many sectors, including oil and gas, construction, infrastructure and retail. It is targeting to reach the USD 1 billion mark in gross financing volume in 2026.
“We’re trying to introduce liquidity into B2B (business-to-business) supply chains. By doing that, we’re trying to enhance the strength and resilience of these supply chains to support SMEs … and increase the liquidity that they can enhance and support GDP growth,” Zelo CEO Dhanush Arjun told Reuters.
He further said that IHC’s support would help “fast-track” more anchor partnerships for Zelo to tap into a wider supply chain network.
“Our commitment to Zelo signals confidence in the region’s ability to originate institutional-grade receivables and to play a larger role in the global private credit market,” IHC CEO Syed Basar Shueb said.