Latest news with #CredibleX
CairoScene
15-03-2025
- Business
- CairoScene
Mastercard & CredibleX to Transform SME Financing in the UAE
The partnership enables faster underwriting, improves risk management, and enhances credit assessment beyond old models. Mastercard has partnered with Abu Dhabi-based fintech CredibleX to improve small and medium enterprise (SME) financing in the UAE. By integrating Mastercard's Small Business Credit Analytics (SBCA) with CredibleX's embedded lending platform, the partnership will enable faster underwriting, enhance risk management, and improve credit assessments beyond traditional models. This marks the first initiative of its kind in the region, leveraging Mastercard's data-driven insights to expand SME access to credit. Founded in 2023, CredibleX provides embedded financing solutions for SMEs, offering access to credit options such as fixed-term loans, invoice financing, and accounts receivable loans—without requiring personal guarantees. In December 2024, the company secured AED 200 million (approximately USD 55 million) in equity and debt funding. Mastercard's SBCA solution helps lenders make better-informed decisions by analyzing anonymized transaction data, cash flow, and revenue trends—rather than relying solely on traditional credit history. This data-driven approach allows lenders to offer tailored credit solutions and better loan terms to SMEs, particularly those with limited credit history or formal documentation. This partnership reinforces Mastercard's presence in the EEMEA region, complementing recent collaborations with MTN Mobile Money Limited, Emirates NBD, and Sadad. Mastercard's value-added services revenue grew 16% year-over-year in Q4, with projected low-double-digit growth for 2025.
Zawya
14-03-2025
- Business
- Zawya
UAE-founded CredibleX joins Mastercard to empower SMEs via first-of-kind product utilisation in region
UAE – Mastercard's Small Business Credit Analytics (SBCA) will be integrated into CredibleX's embedded financing journey where this innovative partnership offers the first utilisation of this product in the region, according to a press release. CredibleX, which was founded in Abu Dhabi, will have enhanced data-driven insights based on anonymised and aggregated transaction data. It will empower SMEs by enhancing and simplifying their access to financing. Small Business Credit Analytics, developed by Mastercard, provides lenders with robust, data-driven insights, with the consent of the business, to help assess the financial performance and retail sales of small businesses. The impact of this partnership extends beyond improved credit access, as it drives financial inclusion for SMEs across the UAE. Selin Bahadirli, EVP, Services, EEMEA at Mastercard, said: 'This partnership with CredibleX underscores Mastercard's commitment to supporting the SME ecosystem in the UAE.' Bahadirli noted: 'SBCA is a game-changer, offering unparalleled insights into small business performance. Together, we aim to empower SMEs with better credit access, improved loan terms, and enhanced opportunities for growth.' Meanwhile, the Co-Founder and Chief Product Officer at CredibleX, Hassan Reda, said: 'This partnership is a testament to our shared vision of enabling financial inclusion and innovation.' Reda concluded: 'By combining CredibleX's expertise in lending with Mastercard's advanced analytics, we are setting a new benchmark for data driven SME financing in the region.' Source: Mubasher
Al Bawaba
13-03-2025
- Business
- Al Bawaba
Mastercard partners with CredibleX to empower SMEs with enhanced access to financing
In a new collaboration, Mastercard's Small Business Credit Analytics ('SBCA') will now be integrated into CredibleX's embedded financing journey. This innovative partnership, the first utilization of this product in the region, provides CredibleX with enhanced data-driven insights based on anonymized and aggregated transaction data. It will empower small and medium enterprises (SMEs) by enhancing and simplifying their access to financing. Small Business Credit Analytics, developed by Mastercard, provides lenders with robust, data-driven insights, with the consent of the business, to help assess the financial performance and retail sales of small businesses. SBCA metrics can provide valuable performance data that help to provide an enhanced ability to evaluate key questions around a small business's performance. This collaboration with CredibleX marks a significant milestone, helping to enable CredibleX to make more informed lending decisions, reduce underwriting time, and enhance risk management. The impact of this partnership extends beyond improved credit access — it drives financial inclusion for SMEs across the UAE. Many small businesses face barriers to traditional financing due to limited credit history or lack of formal documentation. With the insights provided by SBCA metrics, CredibleX can rely on a more comprehensive evaluation of a business's financial health, helping SMEs to secure better loan terms and access higher credit amounts. This partnership empowers SMEs to unlock growth opportunities, contributing to the UAE's economic diversification goals and bolstering its position as a hub for innovation and entrepreneurship. 'This partnership with CredibleX underscores Mastercard's commitment to supporting the SME ecosystem in the UAE,' said Selin Bahadirli, EVP, Services, EEMEA, Mastercard. 'SBCA is a game-changer, offering unparalleled insights into small business performance. Together, we aim to empower SMEs with better credit access, improved loan terms, and enhanced opportunities for growth.' 'This partnership is a testament to our shared vision of enabling financial inclusion and innovation,' said Hassan Reda, Co-Founder and Chief Product Officer at CredibleX. 'By combining CredibleX's expertise in lending with Mastercard's advanced analytics, we are setting a new benchmark for data driven SME financing in the region.'
Zawya
12-03-2025
- Business
- Zawya
Mastercard partners with CredibleX to empower SMEs with enhanced access to financing
Abu Dhabi, UAE: In a new collaboration, Mastercard's Small Business Credit Analytics ('SBCA') will now be integrated into CredibleX's embedded financing journey. This innovative partnership, the first utilization of this product in the region, provides CredibleX with enhanced data-driven insights based on anonymized and aggregated transaction data. It will empower small and medium enterprises (SMEs) by enhancing and simplifying their access to financing. Small Business Credit Analytics, developed by Mastercard, provides lenders with robust, data-driven insights, with the consent of the business, to help assess the financial performance and retail sales of small businesses. SBCA metrics can provide valuable performance data that help to provide an enhanced ability to evaluate key questions around a small business's performance. This collaboration with CredibleX marks a significant milestone, helping to enable CredibleX to make more informed lending decisions, reduce underwriting time, and enhance risk management. The impact of this partnership extends beyond improved credit access — it drives financial inclusion for SMEs across the UAE. Many small businesses face barriers to traditional financing due to limited credit history or lack of formal documentation. With the insights provided by SBCA metrics, CredibleX can rely on a more comprehensive evaluation of a business's financial health, helping SMEs to secure better loan terms and access higher credit amounts. This partnership empowers SMEs to unlock growth opportunities, contributing to the UAE's economic diversification goals and bolstering its position as a hub for innovation and entrepreneurship. 'This partnership with CredibleX underscores Mastercard's commitment to supporting the SME ecosystem in the UAE,' said Selin Bahadirli, EVP, Services, EEMEA, Mastercard. 'SBCA is a game-changer, offering unparalleled insights into small business performance. Together, we aim to empower SMEs with better credit access, improved loan terms, and enhanced opportunities for growth.' 'This partnership is a testament to our shared vision of enabling financial inclusion and innovation,' said Hassan Reda, Co-Founder and Chief Product Officer at CredibleX. 'By combining CredibleX's expertise in lending with Mastercard's advanced analytics, we are setting a new benchmark for data driven SME financing in the region.' About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
