Dubai, UAE – September 2024 – Watermelon Ecosystem, a rapidly expanding UAE-based startup in the food and beverage (F&B) sector, has announced a strategic partnership with Deem Finance LLC, a leading digital financial services provider. This collaboration aims to fuel regional growth by offering tailored financial solutions to small and independent F&B businesses, enhancing their financial stability and operational efficiency.
Under this partnership, Deem Finance has introduced a bespoke credit line designed specifically for the F&B industry. The flexible financing options will empower small restaurants, cafes, and suppliers to better manage cash flow, invest in growth opportunities, and optimize daily operations. With competitive rates and terms, this financial product promises to be a vital tool for businesses seeking to strengthen their financial strategies in a competitive market.
Chris Taylor, CEO of Deem Finance, expressed his enthusiasm about the collaboration:
“We are thrilled to work with Watermelon Ecosystem to provide tailored financial solutions that help local F&B businesses thrive. Supporting SMEs has always been a key focus for Deem, and this partnership reflects our commitment to the sector.”
Omar AlShamsi, CEO of Watermelon Ecosystem, echoed this sentiment:
“Our partnership with Deem Finance is a reflection of our dedication to empowering the F&B sector. By offering this credit line, we’re equipping small and independent businesses with the resources they need to optimize operations and drive growth.”
Watermelon Ecosystem is well known for connecting suppliers and F&B outlets through its marketplace platform, which provides e-procurement, financial solutions, and software-as-a-service (SaaS) products. The introduction of this credit line enhances the company’s suite of services, ensuring businesses have access to essential tools for success.
Deem Finance’s Commitment to SMEs
Deem Finance has a strong track record of supporting SMEs across various sectors through its Merchant Loans program. To date, Deem has disbursed over AED 150 million in loans to around 250 businesses, including restaurants, grocery stores, medical clinics, and salons. The financial service provider, established in 2008 and acquired by the Gargash Group in 2021, offers a wide array of personal and corporate financial products, ranging from loans and credit cards to merchant financing and corporate deposits.
About Watermelon Ecosystem
Watermelon Ecosystem is a UAE-based F&B industry enabler, offering a marketplace platform that connects suppliers with small and independent restaurants. With a focus on regional growth, the company provides e-procurement, financial solutions, and SaaS tools that enhance transparency, efficiency, and sustainability in the industry.
About Deem Finance
Deem Finance LLC is a digital-first financial services provider, regulated by the Central Bank of the UAE. Since its acquisition by the Gargash Group in 2021, Deem has continued to drive innovation in the financial sector, offering a wide range of services including personal loans, credit cards, merchant financing, and corporate investments.
This partnership between Watermelon Ecosystem and Deem Finance is set to not only uplift individual F&B businesses but also strengthen the broader economic landscape by fostering a more diverse and resilient industry.
