Invoice Bazaar, a subsidiary of Triterras which is a leading fintech company focused on digital trade and supply chain finance, has announced a strategic collaboration with Rapid Cari Delivery Services, LLC (“Cari”), a prominent food delivery platform in Dubai. This agreement marks a significant step forward in empowering restaurants on Cari’s network with tailored working capital financing solutions through Invoice Bazaar’s innovative supply chain finance platform, KRATOS™.
This alliance seamlessly aligns with Invoice Bazaar’s commitment to fostering economic growth and supporting businesses through accessible financial services. Utilizing its expertise in factoring and forfaiting services, Invoice Bazaar is poised to deliver distinctive working capital solutions to restaurants affiliated with Cari. The KRATOS™ blockchain-enabled platform is powered by advanced credit analysis tools and revenue-based financing analytics and facilitates transactions in a completely digital environment. This technological approach ensures complete traceability and transparency, further reinforcing the commitment to empower businesses within the Cari network.
“We are thrilled to join forces with Cari to extend our working capital financing solutions to clients within their dynamic network,” said Ashish Srivastava, Chief Commercial Officer at Triterras. “This collaboration allows us to further strengthen our commitment to supporting the MSME businesses in the UAE by providing customized financial solutions that align with the unique needs of the restaurant industry.”
This collaborative effort will empower restaurants on Cari’s platform with Invoice Bazaar’s comprehensive financial solutions, enabling them to manage cash flow more effectively. Moreover, Cari stands to gain by providing a working capital line to its restaurant clients, addressing a key challenge faced by these establishments. This enhanced access to working capital will allow restaurants to also increase promotional spending on the platform, attract more customers and stay ahead of competitors.
Amel Mabrouk, General Manager at Cari, also expressed enthusiasm for the collaboration, stating, “Partnering with Invoice Bazaar allows us to enhance the value we provide to our restaurant partners. By offering streamlined access to financial services, we enable our network to maximize working capital efficiently, fostering a more robust and thriving restaurant community. This collaboration is a testament to our commitment to supporting our partners’ financial needs and driving overall growth within the restaurant sector.”
This partnership solidifies Invoice Bazaar’s dedication to driving economic progress and fostering financial inclusion within the UAE. The company remains committed to playing a pivotal role in empowering businesses across diverse sectors, creating a positive impact on the economic landscape.
