UAE’s CredibleX Secures $55 Million to Boost SME Financing Solutions

Anand Nagaraj, CredibleX CEO & Co-founder

UAE-based startup CredibleX is transforming SME lending by providing innovative solutions for small to medium enterprises seeking working capital. Since its launch, the company has disbursed AED 100 million in loans, making a notable impact on the local business ecosystem.

CredibleX recently raised $55 million (AED 200 million) in a seed funding round comprising equity from Further Ventures and debt from Kilgour Williams Capital, Berkley Square Finance, and others. This financial backing reflects strong confidence in the startup’s business model and growth potential.

Operating a tech-driven platform, CredibleX integrates with SMEs’ daily workflows, offering tailored and transparent financial services. The funding will accelerate growth and expand services, aiming to support more SMEs and boost the UAE’s economy.

“This significant milestone underscores the need for innovative financing solutions that empower SMEs,” said Anand Nagaraj, CEO and Co-founder of CredibleX.

Source: Fintech Global