Tuesday 4 May 2021
Nasdaq-listed Triterras Inc., a fintech company for trade and trade finance, has acquired Dubai-based Invoice Bazaar with operations in UAE and offices in Dubai and India. Following the close of the transaction, Invoice Bazaar will continue to operate under its current brand under the Triterras umbrella.
Founded in 2016 by a team of commercial bankers with prior experience from Citigroup specializing in regional supply chain finance in the Middle East, Invoice Bazaar is an established provider of supply chain finance services in the Gulf Cooperation Council markets and operates a platform for supply chain finance, accounts receivable financing, and e-commerce vendor financing serving multinational corporations and small and medium-sized enterprises (SMEs) alike in the Middle East region.
Invoice Bazaar also has a strong network with local banks in the UAE.
Invoice Bazaar is a five-year-old Dubai-based fintech startup that has developed a proprietary technology platform for offering supply chain finance, receivables finance, and dynamic discounting. The platform provides large buyers the opportunity to help their smaller suppliers by having their receivables paid early.
Invoice Bazaar won the Middle East and North Africa Fintech of the Year award at FinTech Abu Dhabi, a prestigious fintech event in the region.