CredibleX raises AED 200 million in seed equity and debt financing
Further Ventures led the equity investment, with Kilgour Williams Capital and Berkley Square Finance providing debt.
CredibleX announced AED 200 million in combined equity and debt financing in a release dated December 10, 2024. Further Ventures led the seed equity investment, while Kilgour Williams Capital, Berkley Square Finance and other providers supplied debt.
The UAE lender will expand its working-capital services for small and medium-sized businesses. Its embedded model connects financing to partner platforms, allowing companies to apply through the networks they already use.
The company had 35 distribution partners and had disbursed AED 100 million in SME loans since its pilot launch. The individual equity and debt allocations were not disclosed.
Use of funds
Expand SME financing and product offerings