Small and medium-sized enterprises (SMEs), often described as the backbone of every modern economy, may be set for greater financial inclusion in the United Arab Emirates following a fresh investment into rising fintech lender CredibleX.
The UAE-based startup has announced the close of its Series A funding round led by Mubadala Investment Company, as part of a broader $15 million equity raise, with participation from existing investor Further Ventures.
The investment marks a major milestone for the young company, which was founded in 2023 and has quickly positioned itself as a key provider of digital working-capital solutions for SMEs.
This came months after CredibleX secured a $100 million senior secured credit facility to expand lending operations. The latest raise speaks of growing investor confidence in embedded finance as a tool for solving one of the biggest problems facing smaller businesses, access to timely and flexible funding.
What is CredibleX and What Does It Do?
CredibleX is a UAE-based fintech company focused on helping SMEs gain quick access to working capital through digital financing tools. Rather than operating like a traditional bank with lengthy paperwork and slow approval timelines, the company uses technology and strategic partnerships to make funding faster, simpler, and more tailored to the daily needs of businesses.
The company is licensed and regulated by the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM), a sign of its regulatory credibility in one of the Middle East’s most important financial centres.
CredibleX offers several financing products designed for growing businesses. These include Revenue-Based Financing, which allows businesses to repay loans based on future earnings; Receivables Financing, where businesses access funds tied to unpaid invoices; and Payable Financing, which helps firms settle supplier payments while preserving cash flow.
Founded by Anand Nagaraj, Ahmad Malik, and Hassan Reda, the startup says its leadership team brings deep experience from global banking institutions, fintech firms, and digital platforms.
How CredibleX Uses Partnerships to Grow
One of CredibleX’s biggest strengths is its embedded finance model. Instead of depending solely on direct customer acquisition, the company works with over 70 distribution partners already connected to SME networks across the UAE.
This means businesses can access financing through platforms and partners they already use in their normal operations. The model reduces friction, expands reach, and helps CredibleX scale more efficiently.
According to the company, this approach has helped it grow into a leading embedded finance lender in the UAE in less than three years.
How CredibleX Wants to Use the Money
The newly secured $15 million will be used to deepen the company’s footprint across both lending and non-lending services, while strengthening the technology infrastructure that powers its operations.
CredibleX said the funding will help it “scale its lending marketplace, expand partner distribution, and enhance its technology and data capabilities to deliver faster, more efficient financing solutions.”
This suggests the company is not only focused on issuing loans, but also on building a broader financial ecosystem where SMEs can access multiple tools for business growth, liquidity management, and operational support.
Commenting on the raise, Anand Nagaraj, CEO and Co-Founder of CredibleX, said:
“We are delighted to welcome Mubadala as a lead investor in our Series A round. This milestone represents strong validation of our vision to transform SME financing through embedded finance.”
“SMEs are at the heart of the UAE economy, and this investment will enable us to significantly expand our platform, scale our partnerships, and continue delivering flexible, transparent financing solutions aligned with real business needs,” he added.
Short Note on Mubadala Venture Capital
Mubadala Investment Company is one of the UAE’s most influential sovereign wealth funds, managing strategic investments across sectors and geographies.
Through its venture capital initiatives, Mubadala supports innovative businesses capable of driving long-term economic growth, diversification, and technological advancement.
Techparley Africa reported in last February, Mubadala’s similar action to an Hungarian 4IG startup. Its recent backing of CredibleX comes through the MENA Venture Capital Fund, showing Mubadala’s increasing interest in startups solving structural economic challenges across the Middle East and North Africa.
Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, said, “We are pleased to partner with CredibleX as part of Mubadala’s MENA Venture Capital Fund.”
He further noted that the company is helping expand access to innovative financial tools and said the investment reflects a shared mission to empower SMEs with “faster, more inclusive credit.”
Why This Investment is Important
Access to finance remains one of the biggest barriers facing SMEs globally. Many small businesses struggle to obtain loans because they lack collateral, formal records, or long banking histories. Even when funding is available, approval processes are often slow and unsuitable for urgent working-capital needs.
CredibleX is attempting to solve this challenge by using technology, data, and partnership networks to provide financing that is faster and more aligned with how businesses actually operate.
The latest investment also demonstrates a wider trend: institutional investors are increasingly betting on fintech startups that address underserved markets rather than competing directly with traditional banks.
The confidence shown by Mubadala and Further Ventures suggests CredibleX may be emerging as a major force in the region’s SME credit ecosystem.
Further Ventures also praised the company’s progress. Faisal Al Hammadi, Managing Partner at Further Asset Management, said, “We’ve backed the company since inception and see them emerging as a foundational player in the region’s credit ecosystem.”
Talking Points
The CredibleX story carries strong relevance for Nigeria and the broader African market, where millions of SMEs face financing gaps that limit growth, hiring, exports, and innovation.
Across Nigeria, many traders, manufacturers, agribusinesses, retailers, and startups struggle to secure working capital despite strong demand and viable businesses. Traditional banking systems often remain too rigid or slow for smaller enterprises.
The CredibleX model offers a possible blueprint for African fintech companies, partner with existing distributors, marketplaces, cooperatives, telecom platforms, and supply-chain networks to deliver financing directly where businesses already operate.
If adapted successfully, such models could unlock credit for farmers, merchants, e-commerce sellers, and informal-sector entrepreneurs across the continent.
For policymakers and investors, the development also reinforces a key lesson, that’s, solving SME financing problems can stimulate job creation, tax revenue growth, and wider economic resilience for national and continental growth.
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