As payment cycles stretch, embedded finance platforms move to unlock working capital at scale.

Comfi, a UAE-based B2B embedded finance platform, has raised USD 65 million in a Pre-Series A round combining equity and debt. The startup aims to tackle SME cashflow challenges by offering fast working capital across MENA.

Why You Should Care

For founders and operators, access to capital is no longer the only constraint. Timing is.

Comfi’s model targets a structural issue across the region: long B2B payment cycles that lock up liquidity for months. By enabling suppliers to receive payments within 24 hours while offering buyers up to 90-day terms, the company is addressing a gap that traditional lending often faces.

For investors, the signal is clear. Embedded finance is moving deeper into real-economy infrastructure, particularly in SME-heavy markets where cash flow friction directly limits growth.

Comfi, a UAE-based B2B embedded finance platform, has raised USD 65 million in a Pre-Series A round combining equity and debt. The equity round was led by Iliad Partners, with participation from Yango Ventures and Raw Ventures. The round also includes a credit facility from Partners for Growth and a mezzanine facility structured by Shorooq, alongside a family office.

Founded in 2023 by Sanjar Samiev, Alisher Akbarov, Amal Abdullaev, and Denis Gavrilin, Comfi is a B2B embedded finance platform. It aims to tackle a specific operational bottleneck: SMEs waiting to collect payments due to B2B payment cycles that stretch for months. In an attempt to break this cycle, the startup offers a B2B Buy Now Pay Later product that allows SME suppliers to provide up to 90-day payment terms to customers while getting paid within 24 hours.

With the new funding, it aims to scale underwriting capabilities, expand product offerings, and accelerate growth across key MENA markets.

The Ripple

This is part of a broader shift in how SME financing is being transforming in the region.

Rather than expanding traditional lending, newer platforms are embedding credit directly into transactions. This reduces friction and shortens the time between delivery and payment.

For banks and legacy lenders, this changes where financing happens. The decision point moves from a loan application to the moment of transaction.

For startups, it raises the bar. Growth is no longer just about user acquisition, but about building underwriting models that can scale with real transaction data.

What to Watch

The next phase is less about access and more about integration.

As platforms like Comfi expand, the question is how deeply embedded they become within supply chains and enterprise workflows. The companies that succeed will likely be those that move beyond financing into becoming part of how businesses operate day to day.

At the same time, the increasing use of AI in underwriting will shape how risk is priced and distributed across the ecosystem, particularly in markets where credit data has historically been limited.