Image: IHC/ X
International Holding Company (IHC) has completed the acquisition of eFunder, a private financing platform in the UAE that caters to small and medium-sized enterprises (SMEs).
The platform will now operate under the new name Zelo, marking an important transition for the business.
Licensed and regulated by the Financial Services Regulatory Authority (FSRA) of ADGM, Zelo has been active since August 2020. It specializes in providing receivables-based funding to help alleviate working capital shortages faced by SMEs in the region.
Zelo facilitates rapid, digital access to liquidity by converting approved invoices into working capital within 24 to 48 hours.
With the backing of IHC, Zelo is poised to embark on a new journey as part of the holding company’s commitment to fostering future-ready economies through responsible investment and innovation in financial technology.
The platform addresses a critical issue in the region – a substantial $250 billion credit gap for SMEs throughout the Middle East and North Africa.
Although SMEs represent over 95% of registered businesses in the UAE and contribute more than half of the nation’s GDP, many experience payment delays ranging from 60 to 120 days for approved invoices, hampering their growth and operational flexibility.
Zelo aims to bridge this gap through its user-friendly, technology-driven invoice financing platform, targeting key sectors such as construction, logistics, healthcare, industrial services, and oil and gas.
IHC’s Vision for Intelligent and Scalable Solutions
Syed Basar Shueb, CEO of IHC, commented: “SMEs are fundamental to a diverse, future-oriented economy. By strategically acquiring Zelo, we are pleased to support a platform designed to tackle one of the most significant challenges SMEs face—access to timely working capital.”
“This rebranding is a bold step forward, perfectly aligning with IHC’s vision of developing intelligent, scalable solutions and dynamic value networks that create genuine and enduring economic impacts.”
Dhanush Arjun, CEO of Zelo, stated: “Zelo is committed to removing the delays—whether it’s waiting for payments, growth opportunities, or capital access. Our rebrand signifies not only a new identity but also a renewed dedication to the SMEs in the UAE who deserve quicker, smarter financing options. With the strategic support of IHC, we are accelerating towards that future.”
Zelo’s Achievements in Funding
The platform has been designed for rapid deployment and user-friendliness, featuring a fully digital onboarding process, automated funding decision-making, and almost immediate access to capital. This structure eliminates cash flow delays and accelerates reinvestment into business growth.
Zelo also adjusts financing limits based on business performance, ensuring a responsive and seamless funding experience.
The operations of Zelo continue to be guided by the co-founders of eFunder, Dhanush Arjun (CEO) and Deepak Sekar (COO), supported by a team of seasoned professionals with extensive expertise in fintech, SME lending, and digital infrastructure.
So far, the platform has processed over 9,000 transactions and allocated more than $200 million in funding, highlighting its significant influence and scalability within the regional SME landscape.