Comfi Bags $65m funding to expand embedded finance solutions

UAE-based FinTech startup Comfi has raised $65 million in a Pre-Series A funding round comprising both equity and debt, as it looks to scale its B2B embedded finance solutions across the MENA region.

The equity round was led by Iliad Partners, with participation from Yango Ventures and Raw Ventures, both marking their first investment in the region. The debt component includes a credit facility from Partners for Growth and a mezzanine facility structured by Shorooq, alongside a family office.

Founded in 2023, Comfi provides a B2B Buy Now Pay Later solution aimed at addressing delayed payment cycles faced by SMEs. Its platform enables suppliers to offer up to 90-day payment terms to buyers while receiving payments within 24 hours, improving liquidity and supporting business growth.

Sanjar Samiev, Co-founder and CEO of Comfi, said: “When you’re waiting over 60 days to get paid, you can’t invest in inventory or take on new opportunities. We’re fixing that by combining embedded finance with AI-driven underwriting to unlock capital instantly, without the friction of traditional lending.”

The company leverages AI-driven risk assessment and proprietary transaction data to underwrite credit efficiently. Investors highlighted the platform’s potential to address structural financing challenges in the region.

Christos Mastoras, Founder and Managing Partner at Iliad Partners, noted that Comfi is tackling a “fundamental pain point” by improving SME access to working capital, while Shorooq’s Joe Barron added that the platform’s data-driven underwriting model offers greater resilience than traditional lending approaches.

To date, Comfi has processed over 15,000 invoices and serves more than 1,000 clients. The new funding will be used to enhance underwriting capabilities, expand product offerings, and accelerate regional growth.