Today's Edition
ABU DHABI (ALETIHAD)
Botim has expanded its Botim Business platform with the launch of a digital financing service for micro and small businesses in the UAE, alongside a partnership with payment solutions provider Geidea, according to a statement.
The SME Lending service will allow eligible businesses to access financing ranging from Dh10,000 to Dh500,000, with repayment terms of up to 12 months.
The financing can be used to support cash flow, payroll, equipment purchases and business expansion, the statement said.
Botim said its artificial intelligence capabilities would support risk assessments using transaction data, cash-flow information and credit behaviour provided during onboarding or, where available, through participating partners.
The company said this approach would enable faster eligibility assessments and allow financing amounts to reflect a business’s operating profile and cash-flow cycle more closely.
“Micro enterprises make up around 70% of SMEs in the UAE, yet many smaller business owners are accessing formal business finance for the first time,” said Dr Tariq bin Hendi, CEO of Botim and CEO and board member of Astra Tech.
“We want to build around the reality of how these businesses operate, removing unnecessary friction so owners can access the capital they need and focus on growing their businesses,” he added.
The partnership with Geidea will extend the financing service to eligible limited liability companies and sole proprietorships within Geidea’s UAE merchant network.
“At Geidea, we are focused on helping merchants simplify operations and accelerate growth,” said Pankaj Kundra, CEO of Geidea UAE.
“By bringing together payments and funding, we are helping businesses access the tools they need to invest, expand and capture new opportunities,” he added.
The initial rollout, supported by Geidea and Botim’s wider network of partners, is expected to reach more than 30,000 merchants across the UAE, the statement said.
SME Lending is the latest addition to the Botim Business ecosystem, which includes payment-gateway services, point-of-sale solutions, payroll, Wage Protection System services and merchant acquiring.
Financing will be provided by Botim Finance and will be subject to eligibility, credit assessments, applicable terms and conditions, and regulatory requirements.
Botim, headquartered in Abu Dhabi, is part of Astra Tech and the wider G42 ecosystem. The company operates an AI-native platform spanning connectivity, payments, remittances, credit, investment and business financial services, and serves more than 170 million users across over 155 countries.
