Connect with us

Technology

UAE Based Embedded SME Lending Startup CredibleX raises US$55Mn in seed round

Published

on

At Abu Dhabi Finance Week (ADFW), CredibleX announced raising its seed round lead by Further Ventures. The round comprised of equity and debt with participation from Kilgour Williams Capital, Berkley Square Finance, and several other local family offices and funds. CredibleX is a regulated SME lender that works with embedded partners to provide credit to small and medium sized businesses. Since it began operations in March 2024, the startup had extended credit of AED 100Mn (US$27Mn) to SMEs in the UAE.

ABU DHABI, UAE, Dec. 13, 2024 /PRNewswire-PRWeb/ — CredibleX, UAE’s Leading SME Lending Fintech, Provides Access to 100,000 SMEs for Financing and Disburses AED 100 Million During Launch

CredibleX, a pioneering working capital finance platform for SMEs, is proud to announce that it has successfully disbursed AED 100 million in loans to small businesses across the UAE since the pilot launch of its platform eight months ago.

With over 35 distribution partners, such as Network International, DMCC, National General Insurance, Agthia, Watermelon, and Mamo, CredibleX has unlocked financing opportunities for more than 100,000 SMEs, enabling them to apply for credit through its platform. CredibleX’s platform, which integrates directly into the operations of businesses, offers fast, transparent, and accessible financing options tailored to the unique needs of the UAE’s SME sector. By working with embedded partners, the company can reach a wide range of small businesses, offering them seamless access to capital without the complexities typically associated with traditional lending.

In addition, CredibleX is thrilled to announce that it has raised AED 200 million in equity and debt funding, securing support from some of the most prominent investors and financial institutions. This includes seed equity investment from Further Ventures, and participation in debt from Kilgour Williams Capital, Berkley Square Finance, and several other debt providers. The funding will accelerate CredibleX’s growth and expand its offerings to help even more SMEs thrive.

H.E. Alia Al Mazrouei, Minister of State for Entrepreneurship and SME, expressed her strong support for initiatives that drive innovation in SME financing and acknowledged CredibleX’s contributions: “I am truly pleased to see the progress made by CredibleX in such a short time,” said H.E. Alia Al Mazrouei. “Their innovative approach to SME lending is a testament to how technology can empower small businesses and contribute to the growth of the economy. The Ministry of Entrepreneurship and SME is committed to supporting initiatives like CredibleX that not only provide vital access to funding but also promote entrepreneurship and innovation across the UAE. “CredibleX’s success is aligned with the UAE’s broader vision of becoming a global leader in entrepreneurship and innovation. By providing easy access to capital, CredibleX is contributing to the growth and diversification of the SME sector, which remains a critical pillar of the UAE economy.

Nandan Mer, CEO of Network International, a leading enabler of digital commerce in the Middle East and one of CredibleX’s key referral partners, commented on the partnership: “Partnering with CredibleX has been seamless and has enabled us to refer CredibleX’s financing solutions to our SME clients effortlessly. Their embedded lending platform integrates smoothly into our ecosystem, providing our SME partners with quick and easy access to much-needed capital. This collaboration aligns perfectly with our commitment to supporting the growth of small businesses in the UAE.”

“We are thrilled with the progress we have made in such a brief time,” said Anand Nagaraj, CEO and Co-founder of CredibleX. “This significant milestone underscores the need for innovative financing solutions that empower SMEs. We believe that access to capital is one of the biggest challenges facing small businesses, and our goal is to change that. Our embedded lending model provides businesses with the financial flexibility they need to grow and succeed.”

About CredibleX

CredibleX Limited empowers companies to offer lending solutions to their SME ecosystem thereby creating a convenient, trustable and transparent lending solution for all partners. Credible X Limited is regulated by the Financial Services Regulatory Authority (“FSRA”) in the Abu Dhabi Global Market (“ADGM”) and holds Category 2, Category 3 and Category 4 licenses for Providing Credit, Providing Money Services and Operating Private Financing Platform.

Media Contact
Anand Nagaraj, CredibleX Limited, 971 502936455, anand@crediblex.io, https://crediblex.io/

View original content to download multimedia:https://www.prweb.com/releases/uae-based-embedded-sme-lending-startup-crediblex-raises-us55mn-in-seed-round-302330056.html

SOURCE CredibleX Limited

Continue Reading

Technology

Ridero Raises $2.7 Million to Tackle Vehicle Affordability Through AI-Powered Financial Infrastructure

Published

on

By

Backed by RiverPark Ventures, NY Ventures, Green Egg Ventures, Blackpoint Capital, and Potamkin Ventures, Ridero is expanding access to flexible vehicle financing.

NEW YORK, Nov. 9, 2026 /PRNewswire/ — Ridero, an AI-powered automotive financial infrastructure company, today announced $2.7 million in total pre-seed funding, with backing from RiverPark Ventures, NY Ventures, Green Egg Ventures, Blackpoint Capital, and Potamkin Ventures.

The funding will accelerate Ridero’s mission to address the growing vehicle affordability crisis by enabling financial institutions and automotive retailers to offer more flexible financing options at scale.

As vehicle prices and financing costs continue to pressure American households, traditional automotive financing products have struggled to keep pace with changing consumer needs. Ridero is building the technology infrastructure to expand access to alternatives to conventional auto loans, including new- and used-vehicle leasing and balloon financing.

“Millions of vehicles have historically been difficult to lease because the financial infrastructure needed to support them at scale hasn’t existed,” said Brock Thompson, Co-Founder and CEO of Ridero. “We’re building that infrastructure to give lenders and dealers more ways to make vehicles affordable and accessible,” said Natalie Williams, Co-Founder and CTO of Ridero.

Ridero’s platform combines AI-powered deal structuring, risk analytics, and automated lender connectivity to help financial institutions launch, distribute, and manage residual-based financing products.

The company’s technology is already in use at dealerships across the Northeast and Southern United States. Ridero has also established a strategic partnership with Auto Financial Group (AFG) to expand access to residual-based financing products and integrated with Tekion to bring its financing capabilities into existing dealership workflows.

Ridero is advancing additional strategic partnerships and technology integrations with financial institutions and automotive technology providers.

The funding will support continued product development, expansion of institutional partnerships, and growth of Ridero’s team.

About Ridero

Ridero is an AI-powered financial infrastructure company modernizing automotive finance. Its platform connects financial institutions and automotive retailers, enabling the launch, distribution, and management of flexible vehicle financing products, including new- and used-vehicle leasing and balloon financing.

Ridero was founded by Brock Thompson and Natalie Williams, who bring complementary backgrounds in institutional investing and artificial intelligence. Thompson previously worked at The Carlyle Group and The Amherst Group, while Williams came from Capstone Investment Advisors and UBS. Both founders attended Columbia University together.

Website: ridero.ai

View original content to download multimedia:https://www.prnewswire.com/news-releases/ridero-raises-2-7-million-to-tackle-vehicle-affordability-through-ai-powered-financial-infrastructure-302933733.html

SOURCE Ridero

Continue Reading

Technology

OpenHear BM420 Named a CES® 2027 Innovation Awards® Honoree

Published

on

By

Recognized in the Accessibility & Longevity category, the open-ear bone conduction hearing aid reflects Shokz’s expanding expertise in hearing care

AUSTIN, Texas, Nov. 9, 2026 /PRNewswire/ — Shokz, a pioneer in open-ear audio technology, today announced that OpenHear BM420 has been named a CES® 2027 Innovation Awards® Honoree in the Accessibility & Longevity category. Developed by Shokz’s affiliated professional hearing-care company ShokzHear, the device reflects the application of Shokz’s bone conduction expertise to hearing solutions designed with comfort, accessibility and everyday wearability in mind.

OpenHear BM420 is a professionally fitted, non-surgical bone conduction hearing aid designed to provide an alternative to traditional in-ear hearing aids and implantable bone conduction solutions. Its open-ear design keeps the ear canal unobstructed for comfort during extended wear, while individually adjustable hearing settings, directional microphones and background noise reduction help improve speech clarity in everyday environments.

“In hearing care, performance matters, but so does whether people feel comfortable wearing a device day after day,” said Fengyun Liao, Director of ShokzHear. “OpenHear BM420 brings our experience in open-ear bone conduction technology to that challenge, offering an alternative designed around both hearing assistance and everyday comfort. We’re honored to have this approach recognized by the CES Innovation Awards®.”

This recognition comes as Shokz prepares for CES 2027, where the company will showcase continued innovation in open-ear technology, including expanding applications beyond traditional audio.

OpenHear BM420 will be available beginning November 20, 2026, in the U.S. through participating hearing centers, ENT clinics and hospitals.

The CES Innovation Awards® program, owned and produced by the Consumer Technology Association (CTA)®, is an annual competition recognizing outstanding design and engineering in consumer technology. Entries are evaluated by a panel of industry experts, including engineers, designers and members of the media. The 2027 honorees, including product descriptions and images, can be found at ces.tech/ces-innovation-awards.

To learn more about Shokz, ShokzHear, OpenHear BM420 or the complete OpenHear Series, visit ShokzHear.com or follow @ShokzHear on Instagram, LinkedIn and YouTube.

About ShokzHear
ShokzHear is an affiliated company of Shokz, a global leader in bone conduction technology and open-ear acoustics. Drawing on more than a decade of innovation in consumer audio, ShokzHear is dedicated to advancing professional hearing care through accessible and comfortable hearing solutions, leveraging its expertise across both bone conduction and air conduction technologies. Its OpenHear series combines innovative acoustic engineering with everyday wearability, helping eligible individuals with hearing loss experience a different, more comfortable way to hear. Learn more about the brand at ShokzHear.com.

About CES®
CES is the most powerful tech event in the world – the proving ground for breakthrough technologies and global innovators. This is where the world’s biggest brands do business and meet new partners, and the sharpest innovators hit the stage. Owned and produced by the Consumer Technology Association (CTA)®, CES features every aspect of the tech sector. CES 2027 takes place Jan. 6-9, 2027, in Las Vegas. Learn more at CES.tech and follow CES on social.

The CES® Innovation Awards® are based upon descriptive materials submitted to the judges. CTA did not verify the accuracy of any submission or of any claims made and did not test the item to which the award was given.

View original content to download multimedia:https://www.prnewswire.com/news-releases/openhear-bm420-named-a-ces-2027-innovation-awards-honoree-302933652.html

SOURCE SHOKZ

Continue Reading

Technology

Bankers Expect Higher Funding Costs as Outlook for Loan Demand Softens

Published

on

By

ARLINGTON, Va., Nov. 9, 2026 /PRNewswire/ — Bank executives expect a tougher operating environment over the next year, with continued pressure on funding and little improvement in loan demand, according to a survey by fintech IntraFi.

Eighty-seven percent of respondents expect funding costs to increase in the next 12 months, up 84 points from the third quarter of 2025.

“Bankers are facing pressure on both sides of the balance sheet,” said Mark Jacobsen, CEO and cofounder of IntraFi. “The challenge is how to pursue growth without sacrificing profitability or stretching balance sheets. That puts a premium on disciplined pricing, strong customer relationships, and flexibility in how banks fund their business.”

IntraFi’s third quarter Bank Executive Business Outlook Survey was conducted online from October 5 to October 19, 2026, and includes responses from 411 bank CEOs, presidents, CFOs, and COOs nationwide.

Bond market volatility is also shaping bankers’ outlook. Over the next 12 months, 58% said the most significant potential effect of current long-term interest rates and bond market volatility on their securities portfolios would be higher funding costs or pressure on net interest margins. Another 16% cited further unrealized losses that could limit capital flexibility.

Other key findings

Balance sheet strategy: 47% are maintaining their current strategies, while 22% are accepting lower securities balances to make room for loans or cash and liquidity.Economy: 83% expect economic conditions to worsen or remain unchanged over the next 12 months.Access to capital: 78% expect access to capital to remain unchanged.Mortgages: 74% are not pursuing products or programs to help homeowners locked into low mortgage rates move or upgrade their homes.

Download the full report.

About IntraFi

A trusted partner chosen by more than 3,000 financial services companies, IntraFi defines success not by the volume of transactions it enables, but by the quality of relationships it forms. Its network, established over 20 years ago, connects institutions of all sizes to help participants build stronger relationships with their customers, fund more loans, seamlessly manage their liquidity needs, and earn fee income.

The network brings scale, giving each participant access to tens of billions of dollars in funding, the highest per-depositor and per-bank capacity, and the peace of mind of being able to make large-dollar placements.

View original content:https://www.prnewswire.com/news-releases/bankers-expect-higher-funding-costs-as-outlook-for-loan-demand-softens-302933750.html

SOURCE IntraFi

Continue Reading

Trending