alternative-lending
(2)
Ninety Percent of the Economy, Ten Percent of the Credit
SMEs are most of the UAE economy and a fraction of its lending. CredibleX embeds working capital where business already happens - and turned Mubadala into a lead investor with a $15 million Series A.
Flow48
Flow48 is a Dubai-based fintech that gives small and medium businesses in emerging markets fast access to working capital by turning their future revenue and unpaid invoices into upfront cash. Founded in 2022 by serial entrepreneur Idriss Al Rifai, the company uses a proprietary, data-driven underwriting engine to approve non-dilutive, collateral-free financing of up to $20 million, typically disbursing funds within 24 to 48 hours. Operating across the UAE and South Africa with expansion into Saudi Arabia, Flow48 raised a $69 million Series A in February 2025 to close the SME funding gap that traditional banks leave open.