Crediblex
Abu Dhabi-based SME lender regulated by the FSRA at ADGM that offers receivables, payables and revenue-based financing through partner platforms. Mubadala led its USD 15 million Series A in May 2026.
Industry: Embedded SME financing | Location: Abu Dhabi, United Arab Emirates | Founded: 2023 | Total Funding: USD 170M
About Crediblex
CredibleX is an Abu Dhabi-based SME lender founded in 2023 and regulated by the Financial Services Regulatory Authority at Abu Dhabi Global Market. It offers revenue-based financing, receivables financing and payables financing through a fully digital platform. Its model is embedded: the platform connects by API to companies that already serve small businesses, allowing them to offer pre-approved credit to their own SME customers. CredibleX works with more than 70 such distribution partners, an approach intended to keep customer acquisition costs low and let origination grow without a large direct sales force.
The company was founded by Anand Nagaraj, who is chief executive, Ahmad Malik and Hassan Reda, whose backgrounds span global banks, fintech companies and neobanks.
In December 2024 CredibleX announced a USD 55 million seed round, or about AED 200 million, combining equity and debt. Further Ventures, the Abu Dhabi investor, provided the equity, while Kilgour Williams Capital and Berkley Square Finance were among the debt providers; the split between the components was not disclosed. At that time the company said it had disbursed about AED 100 million in loans to UAE small businesses in the eight months since the pilot launch of its platform, and planned to use the funds to grow and broaden its services across the Middle East and North Africa.
In September 2025 London-based private credit firm Pollen Street Capital provided a USD 100 million senior secured credit facility to fund the lending book, its first transaction in the UAE.
In May 2026 CredibleX announced a Series A led by Mubadala Investment Company through its MENA Venture Capital Fund, as part of a broader USD 15 million equity raise in which Further Ventures, a backer since inception, also took part. Ali Eid AlMheiri, executive director of diversified assets in Mubadala's UAE Investments Platform, said the investment supports faster and more inclusive credit for small and medium-sized enterprises in the UAE and the region. The new equity is aimed at platform expansion, partner distribution, technology and data capabilities, and the company's lending marketplace. Across equity and debt, CredibleX has raised more than USD 170 million.
The company targets the SME financing gap across the GCC, estimated at USD 250 billion. Small and medium-sized businesses account for about half of GDP and two-thirds of employment in the region but are often underserved by banks whose underwriting is not designed for short operating histories. Comfi, erad, Flow48 and FlapKap are among the other startups addressing the same gap.
Leadership
- Anand Nagaraj, Co-founder
- Ahmad Malik, Co-founder
- Hassan Reda, Co-founder