UAE’s e& enterprises takes majority in SME lending platform Beehive

The corporate just lately reached the Dh1.5 billion mark on loans.

“The acquisition of Beehive’s digital lending platform marks the second step in e& enterprise’s journey within the Fintech house, after the launch of UAE Commerce Join in 2021,” mentioned Salvador Anglada, CEO, e& enterprise. “SMEs are necessary drivers of the financial system and there’s a want greater than ever to help their distinctive financing wants.

“With Beehive, now we have the fitting technological innovation to speed up on our agenda within the UAE and past.”

e& enterprise will thus have the ability to ‘present an modern lending resolution’ to faucet the $250 billion SME credit score hole within the GCC.

Different e& entities have taken vital shareholding in Starzplay Arabia, the web-streaming platform, and within the Careem Tremendous App, the multi-service client platform.

For Beehive, “This strategic alignment presents an enormous alternative to extend and speed up financing to SMEs throughout the area,” mentioned Craig Moore, founder and CEO. “The market main model, attain and imaginative and prescient of e& and e& enterprise permits Beehive to drive extra innovation and collaboration into the market.

“As one of many very first regional fintechs, it is a validation of the Beehive staff’s unbelievable effort over the past 9 years and displays the vibrancy and success of the UAE’s startup ecosystem.”