The investment is intended to accelerate the company’s entry into new markets, according to Finextra Research.
Yuze provides a range of financial services and specializes in a digital platform for freelancers, e-traders, and SMEs. Through strategic alliances with banks and other financial institutions, these services—which include business accounts and card programs—are made possible.
In the next five years, Yuze hopes to reach one million SMEs and business clients by targeting new markets with the help of the additional funds. The organization’s mission is to remove obstacles that independent contractors and SMEs must overcome in order to obtain basic financial services.
According to more details in the news release, Yuze is dedicated to promoting financial inclusion and establishing industry standards. In addition to demonstrating Yuze’s business model’s potential, Osten Investments’ investment fortifies Yuze’s capacity to improve service offerings and meet its aspirational growth goals.
Yuze CEO Rabih Sfeir commented on the funding, “This investment not only validates our mission but also enhances our ability to expand beyond the UAE and improve our offerings. Our goal is to remove the barriers that SMEs and independent professionals face in accessing financial services, and we are making significant progress towards that. We are working towards setting new industry standards and advancing financial inclusion for all.”
After earlier investments that aided in establishing Yuze’s presence in the FinTech industry, this capital round represents a critical turning point in the company’s history.