Comfi raises $65M in mixed equity and debt for B2B buy-now-pay-later

DUBAI — Comfi has raised $65M in a pre-Series A that mixes equity and debt. Wamda reports Iliad Partners led the equity, with Yango Ventures and Raw Ventures participating, while Partners for Growth provided a credit facility, Shorooq added mezzanine and a regional family office joined. Founded in 2023 and led by CEO Sanjar Samiev with co-founders Alisher Akbarov, Amal Abdullaev and Denis Gavrilin, Comfi lets SME suppliers offer 90-day terms while getting paid within 24 hours.

This record is held at 40° on the desk rather than the alert the headline would trigger. The reason is the structure: most of the $65M is described as debt, and heat here is computed on equity. The precise split was not reported.

What it prices in: a supplier-financing company needs a credit line to fund receivables, so debt in the round is not a red flag. Reporting the facility inside the round size is the part that deserves a second read, and this desk will keep decomposing rounds like it.

Will it work? Ninety-day terms for buyers and next-day cash for suppliers is a real product with real demand across MENA trade. The unit economics live in the credit losses, which no press release reports. The lenders in the round have seen them; that is the most useful signal in the story.

Source: Wamda