Kema’s journey in UAE fintech startup sector

Category: Fintech GCC Startup
Posted by Lea Hogg

Kema, a UAE-based FinTech startup, is making waves in the financial technology sector with its innovative approach to B2B transactions. The company recently secured a $2 million pre-seed funding round, led by Speedinvest and with significant participation from the Dubai Foundation District Fund (DFDF). This investment is set to fuel Kema’s mission to revolutionize the B2B transaction landscape, particularly in the realm of accounts receivable.

The company’s unique approach focuses on digitizing, automating, and streamlining the invoice-to-cash process. By doing so, Kema offers businesses, especially those in the SME sector, the opportunity to enhance their cash flows while saving time and resources. The efficiency brought about by Kema’s solutions reflects the platform’s potential to transform the financial operations landscape for businesses across the UAE.

Fintech support for SMEs

With the newly secured funds, Kema is preparing to launch its Software as a Service (SaaS) platform, specifically designed to support SMEs. The aim is to scale the solution across the UAE and invest in top talent to bolster the company’s growth trajectory.

Kema’s founder and CEO, Michael Ghandour, (pictured above), has highlighted the challenges faced by many B2B SMEs. A healthy and predictable cash flow cycle remains elusive for many, compounded by persistent payment delays, manual invoice workflows and follow-ups, multiple disconnected systems, and limited access to SME financing. As a result, many businesses find themselves stuck in a cycle of limited growth, increasing costs, and unproductive use of their most valuable resource, their employees’ time.

The FinTech industry in the UAE is thriving, with the market estimated at USD 39.3 billion in terms of transaction value. The sector is expected to register a CAGR of more than 15 percent during the forecast period. The UAE is rated first among fintech centres worldwide in terms of innovation, market size, and development potential. More than 134 fintech businesses employ over 2,000 people in the UAE, with Dubai alone being home to over 80 fintech startups.

Kema’s success story is a testament to the vibrant fintech ecosystem in the UAE. The company, founded in 2023 by Michael Ghandour, is part of a broader trend of innovative startups that are reshaping the financial landscape in the region234. With its focus on enhancing and automating B2B transactions, Kema is well-positioned to contribute to the growth and evolution of the fintech industry in the UAE.

Kema’s recent funding success and its innovative approach to B2B transactions highlight the dynamic and rapidly evolving fintech landscape in the UAE. The company’s focus on digitizing and streamlining the invoice-to-cash process addresses a critical need in the SME sector, offering the potential for enhanced cash flows and greater operational efficiency.

As the fintech sector in the UAE continues to grow and innovate, Kema’s story offers an inspiring example of how startups can leverage technology to address complex financial challenges and contribute to economic growth and development.

 

Stop Press – AIBC Eurasia takes place in Dubai 25 – 27 February !

AIBC Africa takes place in Cape Town between 11-13 March !

 

 

Table of Contents