IHC, a global investment company, has finalized its acquisition of eFunder, the UAE’s pioneering private financing platform for small and medium-sized enterprises (SMEs). The platform has been rebranded as Zelo, marking a new phase aimed at expanding access to capital for dynamic regional businesses.
Fully licensed by ADGM’s Financial Services Regulatory Authority (FSRA), Zelo has been operational since August 2020, providing receivables-based funding that converts approved invoices into working capital within 24 to 48 hours. This digital-first approach addresses the critical SME working capital gap in the MENA region.
CEO Syed Basar Shueb highlighted that SMEs form the backbone of a diversified economy, and through acquiring Zelo, IHC supports faster, smarter access to working capital. The rebrand aligns with IHC’s vision to build scalable, impactful solutions that foster lasting economic growth.
Zelo targets the $250 billion SME credit gap in MENA, offering invoice financing across key sectors such as construction, logistics, healthcare, industrial services, and oil & gas. Despite SMEs constituting over 95% of UAE businesses and generating more than half of the national GDP, delayed payments limit their growth—a challenge Zelo aims to solve.
Led by eFunder’s co-founders Dhanush Arjun (CEO) and Deepak Sekar (COO), Zelo has facilitated over 9,000 transactions and deployed more than USD 200 million in funding, demonstrating strong scalability and impact.
Arjun emphasized Zelo’s commitment to eliminating payment delays and accelerating growth opportunities, empowered by IHC’s strategic backing. The platform offers a fully digital onboarding process, automated funding decisions, and scalable financing limits that adapt to business performance, ensuring a frictionless funding experience.
