In a move that underscores growing global investor appetite for Gulf fintech, UAE-based embedded finance startup CredibleX has secured a $100 million secured credit facility from UK-headquartered Pollen Street Capital, marking the alternative asset manager’s first transaction in the region.
Founded in 2023, CredibleX offers digital working capital solutions—including receivables and payables financing—to small and medium-sized enterprises (SMEs) via an embedded lending platform. The facility will enable the company to expand its loan book and accelerate its market penetration in the UAE, a country seeing rapid growth in its non-oil SME sector.
“Pollen Street’s expertise in private credit and their belief in our model puts us in a strong position to scale our mission of democratizing credit access for SMEs,” said Anand Nagaraj, CredibleX co-founder and CEO, in a statement.
The deal also represents a strategic entry for Pollen Street Capital into the Gulf market. The London-based firm, which manages over $7 billion in assets across private credit and equity, opened its Abu Dhabi office earlier this year as part of its global expansion strategy.
“The UAE’s diversification push has fostered a vibrant SME sector, creating significant demand for short-term liquidity,” said Ethan Saggu, Investment Director at Pollen Street. “Our facility will help CredibleX meet this demand while growing sustainable lending volumes.”
CredibleX previously raised $55 million in seed funding in late 2024 and now works with more than 60 distribution partners across the UAE. The company’s rapid growth and regulatory alignment have drawn praise from senior UAE officials as a model for digitally-enabled financial inclusion.
The deal is the latest signal that private credit is gaining momentum in emerging markets, especially in the Middle East, where underserved SMEs are seeking alternatives to traditional bank lending.