Inside the $15 Million Round
CredibleX, a UAE-based embedded finance lender focused on small and medium-sized businesses, has closed a Series A funding round led by Mubadala Investment Company. The round sits inside a broader equity raise of $15 million, with returning investor Further Ventures participating again.
Mubadala backed CredibleX through its MENA Venture Capital Fund, the vehicle the Abu Dhabi sovereign investor uses for high-growth deals across the region. That fund has been active in financial infrastructure stories tied to the UAE's push to widen credit access for smaller businesses.
Where the Money Goes
The startup said the new capital will go toward expanding its lending platform, growing its distribution partner network, and upgrading its technology and data capabilities. CredibleX currently works with more than 70 distribution partners that plug its financing products into their own customer flows.
Its three core working capital products are revenue-based financing, receivables financing, and payable financing. CredibleX is licensed by the Financial Services Regulatory Authority at Abu Dhabi Global Market.
Built for the SME Credit Gap
CredibleX was founded in 2023 by Anand Nagaraj, Ahmad Malik, and Hassan Reda, a team with backgrounds across global banks, fintech operators, and digital platforms. The pitch is direct: most UAE SMEs struggle to access fast working capital from traditional banks, and CredibleX wants to embed credit into the platforms those businesses already use.
That model has pulled in institutional capital before. CredibleX reportedly raised a $55 million seed round in late 2024 led by Further Ventures, with debt from Kilgour Williams Capital. The company then secured a $100 million senior secured credit facility from Pollen Street Capital in September 2025 to scale its lending book.
Mubadala's Fintech Bet
For Mubadala, the deal continues a steady run of fintech commitments. The sovereign investor has been deploying capital into platforms that expand credit access and digital financial services across the Gulf and the wider MENA region. CredibleX's focus on SME credit aligns with UAE policy aimed at directing more lending toward small businesses, which still receive a small slice of total bank credit relative to their share of non-oil employment.
With this round, CredibleX layers Series A equity on top of its 2024 seed and the $100 million senior credit facility it landed eight months ago, giving the lender a deeper balance sheet ahead of its next phase of growth.
