Abu Dhabi, United Arab Emirates: Capiter Technologies Holding Limited (the 'Company'), the leading B2B e-commerce platform, announced that it has appointed Haroon Ahmed, Partner in Restructuring Advisory at Grant Thornton UAE as the administrator of its parent company in Abu Dhabi Global Market (ADGM).

Capiter Technologies Group has made great strides in the B2B e-commerce market in the Middle East and North Africa (MENA) as its platform facilitates transactions between small and medium-sized enterprises (SMEs) and suppliers across various industries. The Group had raised $33 million in funding in September 2021 and attracted over 30,000 SMEs to its platform.

Haroon Ahmed, the appointed Administrator and Restructuring Partner of Grant Thornton UAE, commented, "Our immediate priority is to understand and protect the Company's current business and affairs. We will look to formulate a view on the causes of the insolvency and explore any potential recovery action."

As the newly appointed administrator, Haroon Ahmed will be responsible for overseeing the Company's restructuring and recovery efforts.


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