Zbooni a startup that prides itself as a digital enabler for SMEs, has reportedly bagged $5 million in its Series-A funding round.  The company, however, did not disclose the identity of the London-based investor that led that round.

Zbooni was founded in 2017 with the vision of providing services for a wide spectrum of services for businesses including payment enablement, digital store creation, invoicing technology, and customer management support, among others.

The Dubai-based startup announced earlier this month that it had recorded a rapid acceleration in 2020, which resulted in a 600% increase in the company’s customer-base. As of today, Zbooni claims to support thousands of merchants with a net average transaction volume of tens of millions of dirhams every month.

“Zbooni is on a mission to help provide access to digital commerce tools, ultimately supporting our merchants to start, run and grow their business. While we wish to keep the investor undisclosed, their reputation and track record speak for itself, they have previously invested in some of the most successful emerging market growth stories – operating a fund of well over $1B in assets under management,” said Zbooni CEO and Co-Founder Ramy Assaf.

Ramy added, “Through this support, Zbooni will invest in people to develop even better products for our merchants and enhance the customer experience with best-in-class technology.”

The company stated that it will be utilizing the newly raised capital to further expand the team across its core markets including the UAE, Jordan, and Saudi Arabia.