Crediblex based in Abu Dhabi, has secured seed funding in the sum of $55 million through both equity and debt. This funding marks a major investment in the company, aimed at changing the face of financial services for SMEs across the United Arab Emirates. The investors in the funding round included Further Ventures for equity, as well as Kilgour Williams Capital and Berkley Square Finance for the debt funding.

Company Overview

CredibleX was founded in 2023 by Ahmad Malik, Anand Nagaraj, and Hassan Reda. In short time, the embedded finance platform has grown to be the leading company that is specially designed to provide SME businesses with integrated financial services tailored into the day-to-day running of such firms. Its approach revolutionizes the access of working capital and has left businesses to thrive in an otherwise competitive market.

Funding Details and Investor Confidence

The $55m seed financing round reflects considerable confidence the financial community has had in the business model of CredibleX and its power to yield strong impact within the SME market. The combination of equity financing with debt raises a more solid foundation toward the lofty growth plans expected from this company.

Strategic Alliances and Market Access

CredibleX has partnered with more than 35 distribution partners, such as Network International, DMCC, National General Insurance, Agthia, Watermelon, and Mamo. Through such partnerships, it has opened up financing to over 100,000 SMEs, allowing it to provide easy access to capital through its platform.

Innovative Financial Solutions

The platform provides a host of financial solutions that address the specific requirements of SMEs, among them:

• Receivables Financing: Providing funds against unpaid invoices, enhancing cash flow for businesses.
• Revenue-Based Financing: Offering capital based on projected future revenues, supporting growth initiatives.
• Payables Financing: Enabling immediate payment of supplier invoices, improving supplier relationships and operational efficiency.
• Buy Now, Pay Later (BNPL) for Business: Allowing SMEs to make essential purchases with deferred payment options, aiding in financial flexibility.

They are specifically designed to be integrated into the operations of SMEs to provide fast, transparent, and accessible financing options that meet the challenges of small businesses when they seek traditional loans. PYMNTS Impact and Future Plans

Since its pilot launch eight months ago, CredibleX has already extended more than AED 100 million in loans to SMEs all over the UAE, evidence enough of the high demand for the services it offers. This new funding will therefore help accelerate the growth of the company, expand its service offerings, and serve a larger number of SMEs that add up to the bigger economic landscape in the UAE.

Government and Industry Endorsements

The efforts from the company have received governmental attention and those in the industrial circles. H.E. Alia Al Mazrouei, the Minister of State for Entrepreneurship and SME, lauded the innovative approach by CredibleX towards the financing of SMEs because of its contribution to the UAE’s vision toward a global entrepreneurship and innovation leader. In other instances, Nandan Mer, CEO of Network International, complimented that with the partnership of CredibleX, there was a seamless integration with its value add to the digital commerce ecosystem for SMEs