Pollen Street Capital has announced a $100 million senior secured credit facility to support CredibleX, an innovative SME lender in the UAE.

Target Company Overview

Pollen Street Capital ("Pollen Street") has announced a new $100 million senior secured credit facility for CredibleX, an SME lender based in the United Arab Emirates (UAE). CredibleX focuses on providing small and medium-sized enterprises with quick access to working capital through its innovative digital application platform. The company has distinguished itself by emphasizing embedded partnerships, thereby enabling efficient scaling across the networks of its distribution partners.

Established in 2023, CredibleX has rapidly expanded to a team of over 40 members and collaborates with more than 60 distribution partners. The firm is regulated by the Financial Services Regulatory Authority (FSRA) at the Abu Dhabi Global Market (ADGM) and holds a lending license. CredibleX offers a comprehensive range of working capital finance solutions, including Receivables Financing, Payables Financing, and Short-Term Loans, led by co-founders Anand Nagaraj, Ahmad Malik, and Hassan Reda, who bring a wealth of experience from global banking, fintech, and neo-banking sectors.

Industry Overview in the UAE

The SME sector in the UAE has emerged as a critical pillar for the nation’s economy, especially in the context of diversification efforts away from oil dependence. Recognizing the importance of SMEs, t