Fintech Firm Yuze Completes $30 Million Funding Round
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UAE-based fintech firm, Yuze, has announced the successful completion of a $30 million funding round. The investment round was led by Olsen Investments with participation from several venture capital firms. The company wants to use the additional funds to expand its operations into new markets.
Yuze specializes in a digital platform that caters to freelancers, e-traders, and SMEs. Some of its services include card programs and business accounts, which it facilitates through strategic collaborations with banks and other financial institutions.
Yuze Wants To Break Down Barriers To Essential Services
Yuze is also planning to expand its operations to other new markets. It wants to target one million professional customers and SMEs, and other professionals that access essential financial services. According to the company, it wants to reduce the problems that independent professionals and SMEs face when they are looking to access quality financial services.
Yuze says it wants to set new standards and advance financial inclusion within the industry. The company has drawn interest from various investment firms, especially Osten Investments.
It shows that the company’s business model is attractive to major players in the industry Apart from showing that Yuze has the potential to expand its operations, it also shows that it can reach its broad growth objectives and expand its service offerings.
Yuze Wants To Remove Barriers To Accessing Financial Services
Chief Executive Officer of Yuze, Rabir Steir, commented on the development. He stated that the additional funding validates the company’s goal of expanding its operations while improving its offerings.
He added that the firm’s main objective is to remove the barriers that independent professionals and SMEs usually encounter when accessing financial services.
The latest funding round success is an indication that the company has made serious progress towards the goal. Steir said the team is working to ensure broad financial inclusion while setting new standards in the industry.
The additional funding is a major step the company has taken to achieve its goals. The firm says it will continue to expand its operations and services to cater to SME and professional investors. It comes after previous investments have aided the firm in stamping its footing in the FinTech sector.
The company is also seeking more partnerships within the industry and across other industries to expand its operations. It wants to use its innovative solutions to provide MSMEs while complementing traditional banking products.
