·         The partnership allows Aura to leverage Reem Finance’s financial services infrastructure and license to provide invoice financing to UAE SMEs on a larger scale

22nd July 2024, Dubai, UAE: Aura, a fintech company dedicated to improving SME cash flow through innovative credit solutions, has signed a Memorandum of Understanding (MOU) with Reem Finance, a leading UAE-based financial institution to leverage the latter’s lending capabilities to expand Aura’s SME financing platform specifically within the UAE market.

The partnership is set to tackle the substantial credit gap facing SMEs in the UAE, in line with Aura’s goal of offering instant access to funds through invoice discounting. Aura’s solution is particularly vital in a market where over 50% of B2B transactions are conducted on trade credit, often with extended payment terms that hinder SME growth.