IHC, the global investment company, has announced the acquisition of eFunder, a leading UAE-based SME financing platform, and rebranded it as Zelo, aiming to expand capital access and strengthen the fintech ecosystem for small and medium enterprises (SMEs) across the UAE and MENA region.
Zelo is fully licensed and regulated by the ADGM’s Financial Services Regulatory Authority (FSRA) and provides receivables-based funding, allowing businesses to convert approved invoices into capital within 24 to 48 hours through a fully digital experience.
The platform directly addresses the USD 250 billion SME credit shortfall across the MENA region. SMEs make up over 95% of registered businesses in the UAE and contribute more than half the country’s GDP, yet face payment delays up to 120 days, limiting their growth and operational flexibility.
This acquisition aligns with IHC’s commitment to investing in digital infrastructure and fintech innovation, supporting long-term economic resilience and SME enablement.
Since launching in August 2020, Zelo has facilitated over 9,000 transactions and deployed more than USD 200 million, targeting industries such as construction, logistics, healthcare, industrial services, and oil & gas.
Syed Basar Shueb, CEO of IHC, stated:
“SMEs are the backbone of a diversified and future-ready economy. Through our strategic acquisition of Zelo, we are proud to support a platform that solves one of the most fundamental barriers facing SMEs — access to timely working capital.”
Dhanush Arjun, CEO of Zelo, added:
Zelo exists to eliminate the wait — the wait for payments, growth, and opportunity. Our rebrand represents a renewed commitment to UAE SMEs, delivering faster, smarter access to capital with IHC’s support.”
