CredibleX UAE gets $55 Million in Seed Funding

Leveling Up SME Financing: CredibleX Secures $55 Million

UAE-based fintech startup, CredibleX, is making waves in the financial technology space. The fintech company is revolutionizing how small and medium-sized enterprises (SMEs) access the capital they need to thrive. CredibleX secured a $55 million seed funding for its UAE operations.

Empowering SMEs with Smart Financing

CredibleX has developed a unique platform that seamlessly integrates with the daily operations of SMEs. Additionally, it provides them with transparent and tailored financial solutions. By simplifying the often-complex process of business financing, CredibleX is empowering entrepreneurs to focus on what they do best – growing their businesses.

CredibleX Funding in UAE to Fuel Growth

In a major milestone, CredibleX recently secured a substantial $55 million in seed funding, a combination of equity and debt. This significant investment, led by Further Ventures, along with key debt providers like Kilgour Williams Capital and Berkley Square Finance, reflects the strong confidence investors have in CredibleX’s innovative approach and its potential to disrupt the SME lending market.

Investing in the Future of the UAE

This funding will fuel CredibleX’s ambitious growth plans. The company will leverage these resources to:

• Expand its reach: Support a larger number of SMEs across the UAE, providing them with access to vital financing.
• Enhance its platform: Continuously innovate and improve its technology to offer even more seamless and efficient financial solutions.
• Drive innovation: Explore new opportunities and develop cutting-edge financial products that meet the evolving needs of the SME sector.

Government and Industry Support

CredibleX has garnered significant support from key stakeholders. H.E. Alia Al Mazrouei, Minister of State for Entrepreneurship and SMEs, has commended CredibleX’s efforts in transforming SME financing, emphasizing the government’s commitment to fostering innovative solutions that support the UAE’s entrepreneurial ecosystem.

Nandan Mer, CEO of Network International, has also praised the benefits of the CredibleX partnership, highlighting its positive impact on the digital commerce ecosystem for SMEs.

Bright Future for CredibleX in UAE after funding

“We are incredibly excited about this milestone,” says Anand Nagaraj, CEO and co-founder of CredibleX. “This funding validates our vision and empowers us to further our mission of empowering SMEs with the financial tools they need to succeed.”

CredibleX is poised to become a leading force in the UAE’s fintech landscape. Above all, it is driving innovation in SME financing and contributing to the continued growth and prosperity of the nation’s economy.