CredibleX raised $55M in Seed funding led by Further Ventures to accelerate its growth and expand its offerings for SMEs.

Dec 16, 2024•about 1 year ago

Amount Raised

$55 Million

Round Type

seed

Abu DhabiFintechFinanceFinancial Services

Investors

Berkley Square FinanceKilgour Williams CapitalFurther Ventures

Description

CredibleX, based in Abu Dhabi, UAE, raised $55M in Seed funding to enhance its working capital finance platform for SMEs. The round included equity investment from Further Ventures and debt participation from multiple investors, with plans to accelerate growth and expand services.

Company Information

Company

CredibleX

Location

Abu Dhabi, Abu Dhabi Emirate, United Arab Emirates

About

CredibleX is a provider of a working capital finance platform for SMEs that empowers companies to offer lending solutions to their SME ecosystem. With over 35 distribution partners, it has enabled financing opportunities for more than 100,000 SMEs, allowing them to apply for credit through its platform. The platform integrates directly into the operations of businesses, offering accessible financing options tailored to the needs of the UAE's SME sector. The company is regulated by the Financial Services Regulatory Authority in the Abu Dhabi Global Market.

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Funding Insights

Based on industry data

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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