UAE-Based CredibleX Secures $55 Million to Simplify SME Lending

CredibleX, a UAE-based startup, has secured $55 million in a mix of equity and debt. Notable investors include Further Ventures, which contributed equity funding, while Kilgour Williams Capital and Berkley Square Finance provided debt financing.

CredibleX’s platform is designed to integrate seamlessly into SMEs' operations, offering customised and transparent financial services. By leveraging technology, the startup simplifies traditionally complex financing processes, addressing the unique needs of SMEs in the UAE and positioning itself as a key enabler of business growth. Since its launch, the company has disbursed AED 100 million in loans, providing significant support to the local business ecosystem.

The newly raised funds will be used to accelerate CredibleX’s expansion, enhance its services and support a larger number of SMEs.