CredibleX Lands $100 Million Facility, Fueling SME Lending in the UAE
UAE-based fintech startup CredibleX has secured a substantial $100 million senior secured credit facility from Pollen Street Capital, a move poised to significantly bolster financial support for small and medium-sized enterprises (SMEs) in the region. This strategic funding injection will allow CredibleX to expand its loan portfolio and strengthen its innovative embedded partnership model, offering crucial financial solutions to a vital segment of the economy. The deal also marks Pollen Street Capital’s inaugural transaction in the UAE, signifying growing investor confidence in the region’s fintech sector.
Fueling SME Growth in the UAE: CredibleX’s Strategy
Founded in 2023 by Ahmad Malik, Anand Nagaraj, and Hassan Reda, CredibleX is revolutionizing SME financing by providing tailored financial services designed to streamline daily operational challenges. The platform, regulated by the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM), offers a range of financial products, including receivables financing, payables financing, and short-term loans. This comprehensive approach is intended to give SMEs the financial flexibility they need to thrive. The $100 million facility from Pollen Street Capital builds upon CredibleX’s earlier success, having already secured $55 million in late 2024 through a seed funding round that included both equity and debt instruments.
This latest funding round is a testament to the burgeoning fintech landscape in the UAE and the growing recognition of the importance of supporting SMEs. The investment in CredibleX highlights the increasing interest from international investors to provide financial support to platforms catering to the business needs of small and medium-sized enterprises.
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