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Strategic partnership offers tailored financial solutions to boost local food and beverage industry growth
Written by- Anusrita Ghosh
PC: FOX40
Watermelon Ecosystem, a UAE-based startup, announced it had forged a strategic partnership with Deem Finance LLC as part of one of the leading digitally-led financial services providers to complement financing into small and independent businesses in the food and beverage (F&B) sector. The partnership is expected to drive regional growth and improve financial stability.
The focus of the collaboration lies in a new financial product tailored for the F&B sector, backed by Deem Finance. It’s a credit line that offers flexible financing options tailored to the unique needs and challenges of small restaurants, suppliers, and other players in the F&B industry.
This credit line will be a game-changer for those businesses that will be able to manage their cash flow, invest in new opportunities, and further drive operational efficiency. The race is competitive, the rate and terms, this is a new financial solution. It’s a necessary tool for small and independent F&B businesses looking to optimise their financial strategy.
The collaboration with Deem represents the commitment to empowering the F&B sector with the financial resources it needs, commented Omar AlShamsi, CEO Watermelon Ecosystem. Through this credit line, they will be able to assist small and independent businesses to optimise their operations and drive growth.
Apart from individual business promotion, Watermelon Ecosystem and Deem Finance believe that facilitating small F&B players will have many more economic consequences. Increased power among these businesses is bound to promote growth in a stronger and better diversified economy, hence paving the way for the UAE as an innovation and development hub within the F&B sector.
Deem Finance CEO Chris Taylor emphasised the significance of the partnership by describing it as saying that they are really excited to partner with Watermelon Ecosystem and empower local F&B businesses that can now finally receive perfectly tailored financial solutions helping them thrive.
Deem Finance has already taken several strides in supporting the SME sector through its existing Merchant Loans program. So far, the company has released more than AED 150 million worth of loans to over 250 businesses across sectors like restaurants, grocery, medical clinics, clothes retailers, and salons among others.
The Watermelon Ecosystem enables suppliers to connect with small, independent F&B players using a marketplace platform that offers services ranging from e-procurement, financial solutions and innovative SaaS products. Partnership with Deem Finance: an extension of the Watermelon Ecosystem’s mission to support businesses in the F&B sector.
This credit line further adds to the company’s suite of services to ensure F&B businesses have everything they need for success in a competitive market. Watermelon Ecosystem’s integrity, innovation, and customer-centric solutions support the growth and sustainability of the industry.
Deem Finance Strongly Commits to Business Growth
Deem Finance is a financial service provider established in 2008 and licensed and regulated by the Central Bank of the UAE to date. Being part of Gargash Group since 2021, Deem provides ample opportunities for financial services, with loans, credit cards, and corporate deposits as some of its services focused on personal and corporate financial solutions.
This new partnership with Watermelon Ecosystem aligns with Deem’s aim at driving growth within the SME sector, specifically within those industries that will support the evolving economic landscape of the UAE. Deem shall focus on the long-term success of small businesses across the country by providing custom-fit financial solutions.
The collective experience of Watermelon Ecosystem in the F&B market and Deem Finance financial offerings is quite sure to make this partnership impactful for the UAE food and beverage industry of small businesses trying to establish and grow.