Riyadh - Sharikat Mubasher: Beta Lab, the Saudi deep technology venture capital and co-creation studio, announced its strategic investment in EximPe, a Singapore-headquartered provider of cross-border payments, as part of its strategy to expand in the MENA region.
In a statement, Beta Lab said that this investment aligns with its commitment to fostering innovative solutions that simplify complex challenges.
The investment vehicle will be utilized to further Eximpe’s mission of using technology to simplify cross-border transactions and expand its reach with small and medium-sized enterprises (SMEs).
EximPe leverages technology, artificial intelligence (AI), and machine learning (ML) to revolutionize cross-border payments and trade financing for SMEs. Its tech platform is powered by the likes of DBS, SBM, and more than 30 other banks and fintech firms.
Abdulrahman Alolayan, CEO of Beta Lab said: “I see potential opportunities that EximPe can enable in this cross-border trade relationship between Saudi Arabia and Indian businesses.”
For his part, Arjun Zacharia, Founder of EximPe, stated that Beta Lab’s investment underscores its confidence in EximPe’s innovative solutions for empowering cross-border trade for SME businesses.
“We aspire to be the go-to financial platform for SME Exporters and Importers (EXIM) in India and globally to be competitive and grow their businesses,” Zacharia concluded.
