• UAE-based fintech CredibleX has secured a $100 million senior secured credit facility from Pollen Street Capital.
• Founded in 2023 by Ahmad Malik, Anand Nagaraj and Hassan Reda, CredibleX offers tailored financial services for SMEs’ daily operations.
• This marks Pollen Street’s first UAE transaction since opening the Abu Dhabi office.
• CredibleX provides SMEs with receivables financing, payables financing, and short-term loans.
• The funding will support loan book expansion and strengthen the embedded partnership model.
• In late 2024, CredibleX raised $55 million in seed funding, which included both equity and debt. 

Press release:

CredibleX, the UAE-based SME lending platform regulated by the FSRA at Abu Dhabi Global Market (ADGM), has secured a $100 million senior secured credit facility from Pollen Street Capital, marking Pollen Street’s first transaction in the UAE.

Founded in 2023 by Anand Nagaraj, Ahmad Malik, and Hassan Reda, CredibleX provides receivables financing, payables financing, and short-term loans through a fully digital application platform, enabling small and medium enterprises (SMEs) to access working capital faster and more efficiently.

This funding will enable CredibleX to significantly expand its loan book, strengthen its embedded finance partnerships, and meet growing demand for SME working capital solutions in the UAE.

“This facility is a major milestone in our growth journey and a validation of our embedded finance approach,” said Anand Nagaraj, Co-Founder & CEO of CredibleX. “It will allow us to scale our footprint and democratise access to credit for SMEs across the UAE and beyond.”

Pollen Street Partner Matthew Potter added:

“We are thrilled to support CredibleX in growing its lending volumes and providing quality financing solutions to SMEs. This transaction also represents a key milestone for Pollen Street as our first investment in the region.”