VANCOUVER, British Columbia, Nov. 18, 2024 (GLOBE NEWSWIRE) — Interfield Global Software Inc. (CBOE CA: IFSS) (the “Company”) announces that its wholly owned subsidiary, Interfield Software Solutions LLC, has entered into a memorandum of understanding (“MOU”) dated November 15, 2024 with Abhi, a fintech company, to integrate their respective software platforms, Equipment Hound’s platform and Abhi’s software solutions, to offer an enhanced suite of services to clients in the United Arab Emirates, Kingdom of Saudia Arabia include the Middle-East region. This integration is aimed at delivering improved operational efficiency and financial solutions for clients.
The companies aim to integrate and jointly market Abhi financial solutions, including invoice factoring and salary advance options, with Interfield’s Equipment Hound platform, a premier online marketplace for procuring industrial equipment and services. The collaboration is set to deliver seamless, efficient, and innovative solutions to streamline procurement processes while addressing financial constraints for businesses in the region.
“Abhi has always been committed to empowering businesses with accessible and flexible financial tools,” said Omair Ansari, CEO and Co-Founder of Abhi. “By integrating our solutions with Interfield’s cutting-edge procurement platform, we are paving the way for a comprehensive service ecosystem that drives operational efficiency and growth.”
Steele Hemmerich, President of Interfield, added: “This MOU marks a significant milestone for our platform and its users. Together with Abhi, we aim to provide our clients with unparalleled access to both top-tier equipment and financial resources, strengthening their ability to succeed in today’s competitive marketplace.”
The MOU reflects a shared vision of leveraging technology to empower businesses across the UAE and Saudi Arabia, fostering growth and innovation in key industrial sectors.
The companies will begin work immediately on the integration of their platforms, upon the completion of a binding definitive agreement, a formal rollout of the enhanced services anticipated in the coming months.
About Abhi
Abhi is a prominent fintech company, earning recognition as one of the Future 100 companies in the UAE. It was also the first to receive the Technology Pioneer 2023 Award by the World Economic Forum, making fintech history in the MENAP region. Abhi offers a comprehensive suite of products and services, including EWA, payroll solutions, and SME financing.
About Interfield Global Software Inc.
The Company is a publicly listed company, with its common shares listed on Cboe Canada. (Cboe CA: IFSS) and operates out of Dubai, U.A.E through its wholly owned subsidiary, Interfield Software Solutions LLC (“Interfield Solutions”).
Interfield Solutions is a software company that services numerous industrial segments worldwide including oil and gas, mining and renewables. Interfield Solutions has two operating divisions, E-commerce and Software as a Service. Equipment Hound, the company’s flagship product of its E-commerce division, is an industrial equipment marketplace that connects buyers and suppliers around the globe. Equipment Hound manages a catalogue of equipment from various suppliers and provides procurement solutions for buyers. It includes features such as requests for quotes, logistics support and third-party verification. ToolSuite, the company’s flagship product of its Software as a Service division, is a cloud based data collection and management platform that digitizes industrial processes and provides real-time auditable data for clients.
For more information about the Company, please refer to the Company’s profile on SEDAR+ at www.sedarplus.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
“Harold Hemmerich”
Harold Hemmerich, Chief Executive Officer & Director
Phone: +971 50 558 8349
Bruce Nurse, Investor Relations
Phone: +1 303 919 2913
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