TeamSec Raises USD7.6M in Funding
Summary
TeamSec, a Dubai, UAE-based provider of a SaaS based, AI-powered securitization platform for the structured finance industry through its innovative Securitization-as-a-Service platform, raised USD7.6m in funding. Backers included Deniz Ventures, the venture capital fund of DenizBank, established under the Emirates NBD Innovation Fund—the Corporate Venture Capital arm of Emirates NBD Group—and Rasmal Ventures, a Doha, Qatar-based venture capital firm. The company intends to use the funds to accelerate its growth operations, focusing on rapid expansion in the Middle East and North Africa (MENA) region, to diversify its product and service portfolio and enhance current service offerings. Led by Esad Erkam Köroğlu, Founder and CEO, TeamSec is an AI-powered securitization platform, offering end-to-end securitization services to both financial and non-financial institutions, providing capital optimization and working capital solutions. Its services include credit securitization for financial institutions, invoice receivable securitization for corporates, and trade finance for international trade companies.