Numou, a subsidiary of Abu Dhabi Global Market (ADGM), has partnered with Comera Financial Holding (CFH) to expand financing and payment options for small and medium-sized businesses in the UAE.
Under the agreement, CFH will provide working capital, supply chain finance, business accounts and digital payments through Numou’s online marketplace, which connects SMEs with lenders.
The partnership brings together three CFH businesses. Comera Finance offers business loans, Comera Pay provides digital payments and merchant services, and Comera Money focuses on supply chain finance.
The services are designed to help SMEs fund stock purchases, pay suppliers and manage cash flow between delivering goods or services and receiving payment. CFH’s business accounts and payment tools will also support day-to-day financial management.
Numou General Manager Mohamed Al Binali said the partnership would broaden the services available to UAE businesses through one platform. CFH CEO Akhtar Saeed Hashmi said the company was combining financing and payments to support businesses from securing an order through to receiving payment.
Numou already works with National Bank of Fujairah and fintech lenders including CredibleX, Erad and FlapKap.
Source: Fintech News UAE
