b2b-daily
Home | FinTech | Digital Lending / Digital Payments

CredibleX Secures $55M to Boost SME Lending Services in UAE

Avatar photo
by Mikhail Hamilton
December 23, 2024
CredibleX Secures $55M to Boost SME Lending Services in UAE

In a strategic move to enhance financial support for small and medium-sized enterprises (SMEs) in the UAE, fintech startup CredibleX has successfully secured $55 million in seed funding. The funding round included both debt and equity contributions, with equity being provided by Abu Dhabi-based venture capital firm Further Ventures and debt financing sourced from Kilgour Williams Capital, Berkley Square, and several other unnamed investors. The funds will be directed towards accelerating growth and expanding the range of services offered to SMEs, reflecting a robust market need for accessible financial solutions.

CredibleX, licensed by the Financial Services Regulatory Authority in Abu Dhabi Global Market, aims to leverage this substantial financial backing to broaden its suite of pre-approved lending solutions. These services, which integrate seamlessly via API, include SME insurance finance, B2B channel finance, POS finance, and invoice finance. Since its establishment in 2023, CredibleX has already disbursed approximately $27.2 million in loans, showcasing its capacity to meet the growing demands of SMEs effectively. This recent funding round underscores the company’s commitment to fostering innovation in financial services and enabling sustainable business growth for its clients throughout the UAE.

Financial ServicesInnovationStartup

Explore more

How AI Is Transforming the Teacher Role and Classroom Dynamics
October 5, 2026

The rapid proliferation of machine learning tools within the academic sphere has forced a fundamental reassessment of how knowledge is transmitted from one generation to the next, challenging the very definition of the teacher’s role. For decades, the educational sector remained largely resistant to radical structural change, yet the integration of sophisticated algorithms has now pushed the industry toward a

Intro Group Invests $270 Million in Egypt’s Kemet Data Center
October 5, 2026

Egypt is rapidly emerging as a global digital powerhouse, driven by strategic investments in the Suez Canal Economic Zone. With the Kemet Data Center, the nation is building the physical infrastructure to house the world’s most demanding AI and cloud workloads. This development positions Egypt as the essential hub bridging Africa, the Middle East, and Europe, fostering a new era

The Rise of the Trust Hiring Economy in a World of AI
October 5, 2026

Ling-yi Tsai is a prominent figure in the HR technology landscape, possessing a deep understanding of how digital transformation and data analytics reshape organizational culture. With decades of experience under her belt, she has guided countless companies through the complexities of integrating high-tech tools into recruitment, onboarding, and long-term talent management. Her perspective is particularly vital now, as the industry

Strategic Risks of Microsoft Dynamics NAV 2017 End of Support
October 5, 2026

The shift from the legacy C/AL language to the modern AL language used in Business Central represents a fundamental change in how business logic is developed and maintained. For many mid-sized and large organizations, Microsoft Dynamics NAV 2017 has functioned as a robust Enterprise Resource Planning tool, managing everything from financial ledgers to complex supply chain logistics. However, as the

Honduran Business Central Localization – Review
October 5, 2026

Navigating the labyrinth of Central American tax regulations often feels like solving a puzzle where the pieces change shape the moment a business attempts to lock them into place. For enterprises operating within Honduras, the implementation of Microsoft Dynamics 365 Business Central is not merely about optimizing workflows; it is a critical safeguard against the rigid enforcement mechanisms of the