Aura and Reem Finance have formed a strategic partnership aimed at strengthening Aura’s SME finance platform in the United Arab Emirates and reducing the notable credit gap that SMEs confront.
Aura can provide immediate access to money through invoice discounting by utilizing Reem Finance’s lending capabilities.
This is a crucial option in a market where more than 50% of B2B transactions depend on trade credit with long payment terms, hindering SMEs’ growth.
Addressing the SME Credit Gap
The goal of Aura and Reem Finance’s collaboration is to solve the urgent problem of late payments, which SMEs commonly experience.
With Aura’s invoice financing tool, small and medium-sized businesses can get paid immediately for their invoices, which helps them deal with cash flow issues while giving their clients up to 120 days to pay.
Aura has successfully completed many test transactions since its May launch, greatly increasing enterprises’ operating capability by guaranteeing B2B invoice payment on time.
Enhanced Financial Services for SMEs
With Reem Finance as the lender of record, Aura offers faster payouts to SMEs, ensures compliance with regulatory standards, and improves the efficiency of financial services.
This collaboration allows Aura to scale effectively, leveraging Reem Finance’s capabilities and license to deliver efficient and regulated financial solutions to SMEs, helping them overcome cash flow obstacles and realize their growth potential.
Leadership Statements
Samer El Mardini, Co-Founder of Aura, praised the partnership with Reem Finance as a significant milestone in their efforts to revolutionize SME financing in the UAE.
He emphasized the partnership’s focus on enhancing product and user experience, leveraging Reem Finance’s capabilities and license, and ensuring efficient and regulated financial solutions for SMEs, helping them overcome cash flow obstacles and realize their growth potential.
CEO of Reem Finance Seraj Faidi is thrilled to be working with Aura to offer cutting-edge financial solutions to the SME market in the United Arab Emirates. By providing SMEs with the required financial instruments, the financial services platform hopes to have a major impact on the local economy by supporting FinTech platforms such as Aura.
Reem Finance is dedicated to supporting the expansion of SMEs and making a positive impact on the economy by spearheading transformation in the financial services sector.
Benefits of the Partnership for the B2B Sector
The partnership is especially helpful to the B2B sector since it addresses the pervasive problem of late payments, which limits the expansion of SMEs.
SMEs can sustain consistent cash flow and make growth-oriented investments thanks to Aura and Reem Finance’s invoice financing solution, which offers instant access to money. In a market where B2B transactions frequently include longer payment terms, this is essential.
The partnership between Aura and Reem Finance will significantly improve the UAE’s SME lending market. Continued innovation and increased offerings will support SME growth with more accessible and effective financial solutions.
This collaboration is a prime example of how strategic alliances may influence the financial services industry in a way that benefits small and medium-sized enterprises (SMEs).
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