MENA FinTech company, Bluering, just announced the closing of its Series A round, which will help them with their regional growth strategy. The startup was funded by Phoenician Fund, which mainly focuses on funding and supporting seed companies that are operating in the FinTech sector in the MENA region.
Fares Kobeissi, Bluering’s Chairman and CEO expressed his excitement on the funding, as it deepens their relationship with Phonecian Fund, who according to him, offered them great support with a global mindset. “A large fraction of the funding will be used to support our banking products’ innovation with the values of digitally transforming Credit Risk Management. Bluering will also allocate funding towards further business development, sales, and marketing efforts to support our global market penetration and growth Plans” he said.
Curious about what Bluering does? Bluering’s main mission is to “Make the Life of Every Credit Expert Much Easier”. It’s a leading FinTech company based in Beirut, with the main focus on digitally transforming banks’ credit risks by providing digital Commercial, SME and Retail Credit Risk Management and Ratings value solutions.
According to Fares, Bluering is equipped with a well-rounded team of Technology & Credits experts, which in turn allows the startups to become one of the best Digital Retail Credit Risk platform to the market by Q4 2018. “With recent and upcoming Retail and Commercial products Releases, Bluering remains steadfast in working under a transparent corporate culture in line with international regulations, customer expectations, and internal business operations,” he concludes.