CredibleX, a UAE-based fintech focused on small and medium enterprises (SMEs), has landed a $100 million senior secured credit facility from Pollen Street Capital, marking the London-based firm’s first investment in the UAE market.
In 2023, Anand Nagaraj, Ahmad Malik, and Hassan Reda established the fintech company, which specialises in providing receivables financing, payables financing, and short-term loans through an entirely digital platform.
At this facility, CredibleX will be able to expand its operations and satisfy the increasing demand for working capital among small and medium-sized enterprises in the UAE’s increasingly diversifying economy.
Expanding SME lending and embedded finance in UAE
CredibleX’s digital-first model accelerates the granting of working capital loans to SMEs, which account for more than 90% of UAE businesses but often face credit access barriers.
Anand Nagaraj, CredibleX’s Co-Founder and CEO, emphasised the deal’s importance: “This facility is a major milestone in our growth journey and a validation of our embedded finance approach. It will allow us to scale our footprint and democratize access to credit for SMEs across the UAE and beyond”.
With over 60 distribution partners, CredibleX leverages embedded finance to integrate financial products within SME workflows, making credit more accessible and efficient.
Pollen Street’s Partner Matthew Potter highlighted the significance of supporting SME financing in the region: “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”.
Before this collaboration with CredibleX, Pollen Street Capital established its Abu Dhabi office in 2025. Ethan Saggu, Pollen Street’s Investment Director, observed that the UAE’s transition from oil to other sources of revenue has resulted in a dynamic small and medium-sized enterprise sector with heightened liquidity requirements. This credit facility addresses this deficit.
CredibleX’s growth trajectory follows a $55 million seed funding round in late 2024, demonstrating rising confidence in its mission to unlock working capital for SMEs.
Pollen Street’s $100 million facility will bolster the startup’s loan book and deepen its embedded finance partnerships, driving financial inclusion for UAE SMEs through faster, more affordable credit solutions.