UAE fintech Fortis closes $20 million Series A funding round led by Opportunity Venture
Fortis‘ recent announcement of the successful closure of its Series A funding round, securing $20 million led by Opportunity Venture, underscores a pivotal moment for the company as it endeavours to redefine the retail tech and fintech landscape in the MENA region.
With a decade of industry experience, Fortis is dedicated to empowering entrepreneurs to efficiently manage their business operations, both online and offline.
The expansion of Fortis’ services, such as streamlined order management, personalized loyalty programs, and comprehensive business operation tools, into the UAE signifies a strategic move to further support local businesses in enhancing revenue by fostering stronger connections between merchants and customers.
The infusion of new capital will be strategically deployed to bolster Fortis’ market position and service offerings, particularly focusing on enhancing customer-centric services. This includes refining integration with external platforms and prioritizing user experience and interface design to ensure a seamless interaction for users.
Fortis also aims to forge strategic partnerships with key financial and business service providers to integrate its innovative solutions with banks, payment systems, and B2B services. The company’s commitment to developing omnichannel capabilities underscores its dedication to delivering a consistent and engaging experience across all platforms and touchpoints.
A substantial portion of the investment from Opportunity Venture will be allocated towards brand-building efforts which is crucial for Fortis to enhance its visibility and credibility in the competitive fintech and retail tech sectors. By investing in marketing, public relations, and other brand-building activities, Fortis can increase awareness of its offerings, build trust among stakeholders, and differentiate itself from competitors.
Expanding Fortis’ presence across the MENA region aligns with its growth strategy, tapping into new markets and catering to a broader customer base. This expansion not only increases Fortis’s market share but also strengthens its position as a key player in the region’s fintech ecosystem.
Augmenting the team with new talent is essential for supporting Fortis’ growth and innovation objectives. Hiring skilled professionals with diverse expertise and experience can bring fresh perspectives, drive innovation, and enable Fortis to stay ahead of market trends and customer needs.
Overall, the combination of brand-building efforts, regional expansion, and team augmentation positions Fortis for continued success and leadership in the evolving fintech and retail tech landscape of the MENA region.
