UAE - Sharikat Mubasher: Kema, a Fintech platform based in the UAE, secured $2 million in a pre-seed funding round led by Speedinvest, with participation from Dubai Foundation District Fund (DFDF), a recent press release stated.

The proceeds will enable Kema to launch its software as a service (SaaS) platform to support small and medium-sized enterprises (SMEs) segment, scale the solution across the UAE, and hire top talent to support its growth.

Kema targets transforming B2B businesses by digitizing, automating, and streamlining the invoice-to-cash process.

Michael Ghandour, Founder and CEO of Kema, said: “Our north star is simple, to accelerate cash flow for B2B SMEs using the latest technologies and without the integration headache that comes with it for our clients.”

Meanwhile, Co-founder and CTO Akash Rao, commented: “We actually estimate that more than 500,000 B2B SMEs exist across MENA, suggesting that there is a staggering $400 billion in trapped working capital across their balance sheets.”

He added that the platform continuously adds a range of new features to cater to different types and sizes of businesses.