The funds will be used to support the fintech company's intended Middle East and North Africa (MENA) development, with its headquarters located in Dubai.

Fortis, which was founded in 2022, offers a Point of Sale (POS) and Customer Relationship Management (CRM) solution to small and medium-sized businesses (SMEs).

This tool helps businesses manage their order fulfillment and roll out loyalty initiatives. More than eight million people are allegedly served by Fortis.

The CEO and creator of Fortis, Alberto Caruso, says the company is "committed to leveraging this funding to develop progressive solutions" and to provide its customers with more assistance.

Furthermore, according to Opportunity Venture's managing partner Philip Ma, Fortis' strategy for "fintech and retail tech solutions" is consistent with the VC's "investment thesis."

This month, Fortis is the latest fintech company to close a Series A. These include the $20 million wealthtech startup NewRetirement raised in California, the $33 million raised by Australian banking software provider Constantinople, and most recently, the over €18 million raised by German B2B credit card fintech Pliant.