Advance Global Capital (AGC) has invested in Invoice Bazaar, a fintech supply chain finance platform- that offers receivables purchase from SME suppliers- in the United Arab Emirates (UAE). As part of the partnership, AGC has commited AED4m ($1.1m) in capital as the first tranche towards purchase of receivables mainly targeted towards the SME segment. Anand Nagaraj, the founder & CEO of Invoice Bazaar, started the venture after serving as SVP and Head of Product for Citi’s Middle East commercial banking business. Speaking on the partnership, Nagaraj said, “We are delighted to have the support of an institutional investor of repute like AGC. This is just the beginning and I am sure our relationship with AGC will grow exponentially in the coming months.” Read more: fintechranking.com
