The UAE-based fintech company Fortis has successfully concluded its Series A funding round, with Opportunity Venture leading the $20 million raise.
For Fortis, this investment represents a significant advancement in its mission to transform the fintech and retail tech landscapes in the MENA area.
With ten years of experience under its belt, Fortis is dedicated to helping business owners run their operations both online and offline with maximum efficiency.
“We are thrilled to have secured this significant investment, which will enable us to accelerate our growth and deliver even greater value to businesses in the MENA region,” Alberto Caruso, Fortis CEO and founder, said.
“We are committed to leveraging this funding to develop progressive solutions and provide unparalleled support to our clients as they navigate the rapidly evolving retail and fintech landscape,” he added.
They currently have plans to expand in the UAE with their services, which include streamlined order management, customized loyalty programs, and all-inclusive business operation tools.
By fostering stronger relationships between retailers and consumers, Fortis is dedicated to helping small businesses increase revenue.
“We are excited to lead Fortis’ Series A funding round and support their expansion into the MENA region,” said Philip Ma, managing partner at Opportunity Venture.
“Fortis’ innovative approach to fintech and retail tech solutions aligns with our investment thesis, and we believe they are well positioned to drive significant value creation in these sectors,” Ma added.
The recently obtained capital is designated for multiple strategic projects meant to strengthen Fortis’ position in the market and range of services provided.
Enhancing customer-centric services is one of the main areas of focus. Plans call for enhancing integration with outside platforms and improving Fortis’s own product line, with a focus on interface and user experience design.
In addition, Fortis plans to form strategic alliances with major financial and business service providers in order to integrate its state-of-the-art solutions with payment systems, banks, and B2B services.
Another top focus is building omnichannel capabilities, which guarantee a consistent and interesting user experience across all platforms and touchpoints.
To increase Fortis’s visibility and credibility in the fintech and retail tech sectors, a sizeable amount of the investment will go toward brand-building initiatives in addition to service development.
The expansion drive aims to support Fortis’s growth and innovation objectives by increasing the company’s presence throughout the MENA region and adding new talent to its team.
