UAE fintechs Magnati and Wio Bank partner to support businesses with embedded finance solutions

Payment solutions provider Magnati has partnered with fellow UAE fintech company Wio Bank, the region’s first platform bank to provide embedded finance solutions through an innovative merchant financing platform. This collaboration supports the UAE’s ambitions for economic growth by enabling businesses across the country to access faster credit, helping them grow and thrive in a competitive market.

Magnati’s platform integrates real-time Point of Sale (POS) payment data to offer financial solutions to merchants. Businesses can access credit facilities through the Wio Business digital banking platform, and benefit from the platform’s range of services, including business loans, invoice financing, equipment financing, POS financing, receivables financing, and insurance—all tailored to support SMEs and larger enterprises.

Wio Business, the bank’s first digital banking application, caters to businesses of all sizes from small and medium enterprises (SMEs) to larger corporates and freelancers. This partnership enables Wio Bank to expand access to support business growth by providing fast access to financing using Magnati’s platform, simplifying cash flow management and credit access. Loan EMIs are automatically deducted from daily payouts, streamlining the repayment process for merchants.

As the financial partner, Wio Bank utilizes proactive decision-making insights from the platform to assess the performance and financial health of businesses, enabling accurate and timely lending decisions. This approach allows businesses to access finance that fits their needs while supporting their long-term growth.

Jayesh Patel, CEO of Wio Bank, said, “Our collaboration with Magnati addresses a key challenge for businesses—quick and easy access to finance. We are simplifying the process for businesses to obtain credit and manage their finances, allowing them to focus on growth. This partnership aligns with our goal to foster growth for business of all sizes and drive entrepreneurship to support the ecosystem in the UAE.”

Ramana Kumar, CEO of Magnati, added, “We are thrilled to partner with Wio Bank and offer an innovative embedded finance solution to our SME merchants with seamless access to financial solutions through the platform. The platform enables banks and financial institutions to underwrite based on proactive intelligence generated from transaction data created by Magnati. Together, Magnati and Wio Bank are committed to enhancing the financial landscape for businesses, supporting their growth, and contributing to the ongoing development of the UAE’s entrepreneurial ecosystem.”