Fortis, the Dubai-based retail tech and fintech solutions firm, has secured $20 million in a Series A funding round, which will be used to fuel its expansion and forge new partnerships.

According to the company, the investment round was led by Opportunity Venture (Asia), a limited partnership fund based in Hong Kong.

“We are thrilled to have secured this significant investment, which will enable us to accelerate our growth and deliver even greater value to businesses in the MENA region,” Alberto Caruso, Fortis Digital Solutions CEO and Founder, said in a statement.

Fortis said the raised funds will be utilised for the development of Customer-Centric Services, prioritizing UX / UI design, along with forging new partnerships with banks, payment systems, and B2B services to complement their existing products.  

The fintech is also looking to further develop its omnichannel capabilities, along with expanding its presence in MENA and hiring new talents.

Founded in 2023 by Alberto Caruso, Fortis works with SMEs and entrepreneurs to manage offline and online transactions, streamline orders and implement personalised loyalty programmes.

(Writing by Bindu Rai, editing by Seban Scaria)