Comfi, an embedded finance platform, has raised $65 million in a Pre-Series A round combining equity and credit facilities to expand SME financing across the Middle East and North Africa.

The equity portion of the round was led by Iliad Partners, with participation from Yango Ventures and Raw Ventures.

The round also included credit facilities from Partners for Growth and mezzanine financing structured by Shorooq Partners.

Founded in 2023 and headquartered in the UAE, Comfi addresses cash flow challenges faced by SMEs due to extended payment cycles through a B2B “buy now, pay later” model, enabling suppliers to offer up to 90-day payment terms while receiving payments within 24 hours.

Co-founder and CEO Sanjar Samiev said the platform was built to solve delayed payment challenges that limit SME growth, leveraging embedded finance and AI-driven risk assessment to accelerate access to working capital.

Christos Mastoras, Managing Partner at Iliad Partners, noted that Comfi represents a new wave of fintech infrastructure companies addressing working capital gaps in the region.

The company has processed over 15,000 invoices, serves more than 1,000 clients, and works with over 4,000 partners, reflecting strong demand for flexible financing solutions.

The new funding will support underwriting and risk management capabilities, expand product offerings, and accelerate regional growth