UAE-based fintech SaaS platform Kema has raised $2 million in a pre-seed funding round led by Speedinvest.
Kema digitises, automates and streamlines the invoice-to-cash process for business-to-business SMEs, accelerating cash flow.
Michael Ghandour, CEO, Kema, says: “Having worked with B2B SMEs, a healthy and predictable cash flow cycle remains elusive for many. The problem is compounded by the combination of persistent payment delays, manual invoice workflows and follow-ups, multiple disconnected systems, and limited access to SME financing.
“As a result, many businesses get stuck in a cycle of limited growth, increasing costs and unproductive use of their most valuable resource, their employees' time.”
The firm is working to address this with its “no-code” plug-ins that sync with accounting software such as Xero and Quickbooks.
Kema says that within minutes, businesses can start generating and processing invoices, automatically embedding payment links and sending reminders, receiving payments via a variety of digital channels, and getting real-time analytics on their cash flow.
Since the private beta version rolled out in in the second quarter of 2023, Kema has facilitated more than $4.5 million in invoices. Now, with the funding in place, it is set to fully launch, scale the technology across the UAE and make hires.