Comfi Raises US$65 Million to Expand SME BNPL Across MENA
UAE-based B2B embedded finance platform Comfi has secured US$65 million in a Pre-Series A funding round made up of equity and debt, as it looks to expand its buy now, pay later (BNPL) offering for small and medium-sized enterprises (SMEs) across the Middle East and North Africa (MENA).
The equity portion of the round was led by Iliad Partners, with participation from Yango Ventures and Raw Ventures. According to Comfi, both investors are making their first investments in the region. The transaction also included a credit facility from Partners for Growth and a mezzanine facility structured by Shorooq, with participation from a family office.
Founded in the UAE in 2023
Comfi was founded in 2023 and is headquartered in the UAE. The company was established by Sanjar Samiev, Alisher Akbarov, Amal Abdullaev and Denis Gavrilin, a founding team with experience in fintech product development, operations scaling and engineering. The platform is focused on addressing cash flow constraints faced by SMEs, particularly those affected by extended B2B payment cycles.
The company’s BNPL product is designed to help SME suppliers offer customers payment terms of up to 90 days while still receiving payment within 24 hours. Comfi says this model is intended to improve working capital access and reduce the strain created by delayed receivables.
Funding to Support Product and Regional Growth
In a statement, Comfi co-founder and CEO Sanjar Samiev said the new capital will help the company scale its products, strengthen regional partnerships and expand access to fast, reliable working capital across MENA.
The company said it has already processed more than 15,000 invoices, works with over 4,000 finance leaders and serves more than 1,000 clients. With the fresh funding, Comfi plans to strengthen its underwriting and risk capabilities, broaden its product offering and accelerate expansion in the region.
Embedded Finance Gains Momentum in SME Lending
Comfi’s funding highlights growing investor interest in embedded finance solutions that support SME liquidity and trade payments. As businesses across MENA continue to manage longer payment terms and tighter working capital cycles, platforms that can bridge the gap between invoicing and settlement are becoming increasingly relevant.
The inclusion of both equity and debt in the round also reflects a financing structure often used by fintech companies seeking to scale lending or credit-led products. For Comfi, the capital provides additional room to develop its risk infrastructure while pursuing growth across new markets in the region.
Industry Analysis
Comfi’s raise signals continued demand for SME-focused financial infrastructure in MENA, particularly solutions that make trade finance and short-term liquidity more accessible. BNPL products tailored to business customers can help suppliers improve cash flow without forcing buyers into immediate payment, creating a more flexible settlement model for B2B commerce.
The funding also suggests that investors remain supportive of fintech businesses addressing practical credit and working capital challenges, especially in markets where SMEs form a major part of the economy. If Comfi executes its regional expansion successfully, it could strengthen the case for embedded finance as a core layer in SME payments and financing across MENA.
