The investment round was led by Mercatus Capital Pte., a Singapore-based venture capital firm, with additional participation from both regional and international investors. This funding will support the company's all-in-one platform, which is designed to simplify cashflow management and improve digital payments for SMEs across the region.
The GCC region's B2B payments landscape is significantly underdeveloped, with less than 5% of transactions digitised, despite a market opportunity valued at over USD 1.5 trillion annually. This presents a critical opportunity for omnispay to drive digital adoption and unlock economic potential for SMEs. While many competitors focus solely on digital collections, omnispay sets itself apart by integrating collections, payments, and borrowing into one platform. This solution aims to reduce transaction costs, simplify cash flow management, and offer SMEs a competitive edge in a digital-first economy.
omnispay’s mobile app, which supports English, Arabic, and Malayalam, is one of the first in the region to overcome language barriers and cater to a wide variety of businesses. Notably, over 40% of omnispay’s customers are using digital payments for the first time.
SMEs in the UAE represent 94% of all businesses and contribute 40% of the country’s GDP, according to the UAE Ministry of Economy. Despite their importance, SMEs have historically been underserved by traditional financial tools. omnispay aims to democratise access to digital payments, fostering growth and supporting the region's economic transformation.
The recent seed funding round is a strong endorsement of omnispay’s vision and market fit. The company plans to further develop its platform by adding smart tools for invoice management, quick settlements, and responsible borrowing options. These features are designed to simplify the entire payment journey and improve financial efficiency for SMEs.
The adoption of digital payments among SMEs has surged by 60% since the pandemic, yet B2B digital payment adoption remains lagging compared to B2C transactions. omnispay’s innovative combination of COLLECT (invoice management and digital collections), PAY (flexible payment methods), and BORROW (micro-lending functionality) is positioning the company to bridge this gap and accelerate digital transformation for SMEs in the GCC region.
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