Fundbot secures USD 1.5 million seed funding round

Fundbot, a fitnech startup that automates corporate lending and payments between banks, buyers, and sellers, has secured a USD 1.5 million seed funding round led by VC Hambro Perks Oryx Fund. The company targets significant expansion in the MENA region, initially in the UAE and Saudi Arabia, and later into Oman, Bahrain, and Egypt.

Created to address cash flow problems for startups, Fundbot offers a fully automated, end-to-end embedded solution that streamlines supply chain finance and helps banks, fintechs, and B2B marketplaces embed and rapidly launch financial services.

Fundbot’s officials stated that the MENA region is home to 19 million SMEs, three quarters of which are suffering from delayed payments, amounting to a regional cashflow gap of USD 250 billion. The company’s embedded supply-chain financing solution can support both large and small enterprises and contribute to sustained economic growth throughout the region.

Optimising operations for enterprises and SMEs

With Fundbot, financial institutions, telcos, and marketplaces can streamline and optimise workflows, reducing the need for manual intervention and minimising the risk of errors. Fundbot can also enable these businesses to create new revenue streams by delivering faster, more efficient finance.

Fundbot’s benefits to SMEs include gaining access to swift and flexible financing options, significantly enhancing purchasing power and allowing smaller businesses to seize opportunities, address unexpected expenses, or capitalise on market trends. For these organisations, Fundbot brings improved cashflow management, reduced administrative overhead and real-time visibility of financial transactions, leading to more informed decisions.

In a statement, Fundbot’s investors noted that they are happy to announce their strategic investment in Fundbot, an infrastructure solution that facilitates and streamlines SMEs access to banks’ credit products while avoiding any credit risk. With a track record of supporting fintechs and a commitment to driving innovation in the fintech space, they look forward to collaborating with Fundbot to grow the business and contribute to their scaling efforts in the MENA region.

Fundbot’s security approach

In addition to implementing market-leading security technologies and following industry best practices, the company runs an isolated customer infrastructure, subjecting it to internal and external penetration tests every six months, monthly internal network and application scans, and daily infrastructure scans. Fundbot also implements disaster-recovery protocols that are region-specific, ensuring both operational efficiency and compliance with local regulations.