IHC Acquires UAE Fintech eFunder to Tackle $250B SME Funding Gap
eFunder - now rebranded as Zelo - has processed more than $200 million in funding across 9,000 transactions since launching in 2020.
International Holding Company (IHC) has acquired the UAE fintech platform eFunder and rebranded it as Zelo, unveiling a renewed strategy to bridge the $250 billion SME funding gap across the MENA region. The move is part of IHC’s expanding fintech portfolio and aims to strengthen cash flow solutions for small and medium-sized enterprises by enabling them to turn invoices into fast, short-term capital.
Licensed by the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA), Zelo operates as a digital-first platform offering rapid invoice-based financing. Under its new identity, Zelo will continue to provide businesses with working capital within 24 to 48 hours of invoice approval.
The fintech platform has processed more than $200 million in funding across 9,000 transactions since launching in 2020. With this acquisition, IHC plans to scale Zelo’s services and reach, introducing new product lines and tools to help SMEs address persistent cash flow challenges, particularly in sectors prone to long payment cycles.
The rebrand also marks a commitment to supporting the UAE’s broader economic diversification goals. SMEs currently represent over 95% of the country’s businesses and more than half its GDP. Many face delayed payment terms that stretch from 60 to 120 days, making fast-access liquidity solutions a critical need.
Zelo will continue to operate from its Abu Dhabi headquarters, led by its founding team, and will remain focused on serving SMEs across the UAE and the wider region.
