Comfi, a B2B embedded finance platform based in the UAE, has successfully raised $65 million in a Pre-Series A funding round, which includes both equity and debt financing. The platform is dedicated to enhancing working capital availability for small and medium-sized enterprises (SMEs).
The equity component was primarily led by Iliad Partners, with Yango Ventures and Raw Ventures participating in their first investments in the region. Additionally, the funding round was supplemented by a credit facility from Partners for Growth, as well as a mezzanine facility orchestrated by Shorooq, along with contributions from an unnamed family office.
The newly acquired capital will be utilized to enhance Comfi’s underwriting and risk assessment capabilities, expand its product offerings, and facilitate growth in key markets throughout the MENA region.
Founded in 2023 by a team including Sanjar Samiev, Alisher Akbarov, Amal Abdullaev, and Denis Gavrilin, Comfi was established by individuals with extensive backgrounds in FinTech product development, operational scaling, and engineering.
Comfi directly addresses a significant issue facing SMEs in the region: the protracted B2B payment cycles that can extend for months, depriving businesses of essential working capital. Its signature offering is a B2B Buy Now Pay Later service that allows SME suppliers to offer payment terms of up to 90 days to their clients while receiving payment within 24 hours. To date, the platform has managed over 15,000 invoices and currently serves more than 1,000 clients, supporting over 4,000 finance professionals.
Sanjar Samiev, co-founder and CEO of Comfi, stated, “Our platform was created from personal experiences regarding the challenges posed by lengthy payment cycles. When payment is delayed for over 60 days, businesses struggle to invest in inventory, hire staff, or seize new opportunities—they’re merely surviving.”
He further elaborated, “We are transforming this scenario by integrating embedded finance with AI-powered risk and underwriting to provide immediate capital access, eliminating the complications of traditional lending. This Pre-Series A funding will enable us to enhance our products, solidify regional partnerships, and broaden the availability of swift and dependable working capital across MENA.”
Christos Mastoras, founder and managing partner of Iliad Partners, expressed, “Our investment strategy focuses on technology companies that modernize and digitize the foundational infrastructure of the GCC economy. Comfi is addressing one of the most pressing issues in the region: access to working capital for SMEs.”
Mastoras added, “By fusing AI-driven underwriting with prudent risk management, the team has established a scalable platform designed to make a tangible impact on the real economy. We are continually impressed by the clarity of vision, speed of implementation, and disciplined methodology exhibited by Sanjar and his co-founders. We are honored to lead this funding round as Comfi expands across MENA and serves as a reliable financing partner to numerous SMEs driving regional growth.”