• CredibleX secured a USD 100M senior secured credit facility from London-based Pollen Street Capital to expand SME lending in the UAE.
• Founded in 2023, CredibleX provides receivables, payables, and short-term financing solutions through its digital platform, regulated by ADGM.
• The facility enables CredibleX to serve more SMEs, enhance access to working capital, and accelerate its growth strategy.

CredibleX

UAE-based SME lender CredibleX, secured  a USD 100 million senior secured credit facility from London-based private capital asset manager,Pollen Street Capital.

“UAE is a fast-growing economy which continues to diversify away from the oil sector, and this has led to the creation of a vibrant SME sector, which itself has created a working capital requirement for these fast-growing SMEs. Our facility, managed by the strong leadership team, will support CredibleX to grow its lending volumes by fulfilling the local liquidity demand,” said Ethan Saggu, Investment Director at Pollen Street.

Founded in 2023 by Anand Nagaraj, Ahmad Malik, and Hassan Reda, CredibleX is a fintech platform providing innovative working capital solutions to SMEs across the UAE. It is regulated by the FSRA at Abu Dhabi Global Market (ADGM). Furthermore, it specialises in providing SMEs with fast access to working capital through its digital application platform. It provides SMEs with a full suite of working capital finance solutions, including Receivables Financing, Payables Financing, and Short-Term Loans. 

SME Lending

Up next, it aims to expand its presence in the UAE market. Additionally, it aims to enhance its service for the increasing demand for working capital solutions among SMEs. Moreover, through leveraging Pollen Street’s expertise in private credit solutions it aims to accelerate its mission of democratizing access to credit for SMEs. Additionally, it seeks to grow its lending volume by fulfilling the local liquidity demand.

“The facility will enable us to significantly expand our footprint in the UAE market and better serve the growing demand for working capital solutions among SMEs. Pollen Street’s expertise in private credit solutions and their confidence in our business model positions us perfectly to accelerate our mission of democratizing access to credit for small and medium enterprises in the UAE and beyond,” said Anand Nagaraj, Co-Founder & CEO at CredibleX.