The telecom company announced it was acquiring 63.3 per cent of the peer-to-peer lending platform in May
In 2021, the Fund supported SMEs with Dhs65.29m worth of financing, of which Dhs47.67m was disbursed through Beehive to 374 projects
The lending service will be available for UAE-based SMEs and startups operating in one of EDB’s five priority sectors, which are manufacturing, healthcare, food security, advanced technology and infrastructure
The Beehive platform uses crowdfunding technology to connect SMEs seeking finance with investors who can support their finance request
Overall, local entrepreneurs received over Dhs630m worth of incentives and support from Dubai SME since its inception in 2002
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