{"id":98934,"date":"2024-12-18T00:00:00","date_gmt":"2024-12-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/embedded-sme-lending-startup-crediblex-secured-usd-55-mn-in-debt-and-equity-seed-funding\/"},"modified":"2024-12-18T00:00:00","modified_gmt":"2024-12-18T00:00:00","slug":"embedded-sme-lending-startup-crediblex-secured-usd-55-mn-in-debt-and-equity-seed-funding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/18\/embedded-sme-lending-startup-crediblex-secured-usd-55-mn-in-debt-and-equity-seed-funding\/","title":{"rendered":"Embedded SME lending startup CredibleX secured USD 55 mn in debt and equity seed funding"},"content":{"rendered":"

UAE-based embedded SME financial services prov<\/strong>ider CredibleX secured USD 55 mn in <\/strong>seed funding<\/strong> through a combination of equity and debt, according to a statement<\/a>. The round witnessed the participation of several firms, including Further Ventures for equity, as well as Kilgour Williams Capital, and Berkley Square Finance, among other debt providers. The funds will help the company expand its services to SMEs. <\/p>\n

About the company:<\/strong> Founded in 2023 by Ahmad Malik (LinkedIn<\/a>), Anand Nagaraj (LinkedIn<\/a>), and Hassan Reda (LinkedIn<\/a>), CredibleX\u2019s platform allows SMEs to apply for financing from its 35 distribution partners, which include Network International, DMCC, National General Insurance, Agthia, Watermelon, and Mamo, and allows startups to access financing options through the platform. Over 100k SMEs currently use the platform. <\/p>\n","protected":false},"excerpt":{"rendered":"

The newly raised funds will drive the company\u2019s expansion plans<\/p>\n","protected":false},"author":1,"featured_media":98935,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[1391,7,320,78,147],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-debt","tag-enterpriseam-uae","tag-smes","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"8fcadebd-8787-4aed-a22d-26c8fd32f826","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1246.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CredibleX secured USD 55 mn in debt and equity seed funding","related_issue":[98918],"teaser":"The newly raised funds will drive the company\u2019s expansion plans","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.c4b6350c-1ae7-4d22-a81e-1d6410d7445a.mp3"},"yoast_head":"\nEmbedded SME lending startup CredibleX secured USD 55 mn in debt and equity seed funding - 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