Abu Dhabi, UAE – LuLu Financial Holdings (LFH) has partnered with fintech infrastructure provider Purpleplum to launch LuLu Money Business, a unified financial platform designed for small and medium-sized enterprises (SMEs) and larger businesses in the UAE. The announcement was made on 28 October 2026.
The platform runs on Purpleplum’s core-agnostic orchestration technology, which brings existing banking rails, payment networks and workflows together in a single interface. Business accounts are issued by ruya, an Islamic digital bank licensed and regulated by the Central Bank of the UAE.
What SMEs get
- Digital Islamic business accounts issued through ruya
- Agentic AI onboarding, with autonomous workflows handling account opening
- WPS payroll integration and automated salary administration
- Consolidated payment tools and corporate expense cards
- Global remittances through LFH’s cross-border settlement network
A startup scaling from the UAE
Purpleplum, co-founded by Kalyan Karteek Sadasivuni and Sai Sandeep Sadasivuni, already serves 1.1 million active users and has cleared more than 520 million transactions. The company plans to make the UAE its operating base over the next 12 to 24 months, adding AI-native workflows such as automated underwriting, trade finance and corporate lending.
LFH plans to take LuLu Money Business to the wider GCC, India and Asia-Pacific, with future features that may include working-capital loans, trade financing, receivables management and automated treasury services.
Why SMEs matter
According to the UAE Ministry of Economy and Tourism, the country has around 1.33 million registered SMEs, making up nearly 95% of all businesses, 63% of national GDP and more than 85% of private-sector jobs.
Source: The Fintech Times.
