CredibleX Secures New Funding to Support SME Lending

CredibleX, a prominent UAE-based fintech platform, has announced a significant agreement with Pollen Street Capital, securing a $100 million secured credit facility.

This deal marks Pollen Street's first investment in the UAE, underscoring the growing importance of the region's fintech market.

Established in 2023 by Anand Nagaraj, Ahmed Malik, and Hasan Riza, CredibleX aims to transform how small and medium-sized enterprises (SMEs) access working capital.

The company provides integrated financing solutions through a digital platform that includes accounts receivable financing, accounts payable financing, and short-term loans.

The new funding will be used to expand the company’s loan portfolio and enhance its innovative embedded finance model. This move is intended to meet the rising demand for flexible and fast financing solutions for SMEs in the UAE.

Anand Nagaraj, Co-founder and CEO of CredibleX, expressed his excitement about the deal, stating that it represents a turning point in the company's growth journey and a testament to the strength of their approach.

Similarly, Matthew Potter, Partner at Pollen Street Capital, affirmed that his firm is proud to support CredibleX in its mission to provide high-quality financing solutions, noting that the investment is a significant milestone in their regional expansion strategy.