Pollen Street Capital has agreed a $100m (£74m) senior secured credit facility to UAE-based SME lender CredibleX.
It is the first transaction for Pollen Street in the UAE and follows the opening of its offices in Abu Dhabi.
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CredibleX provides SMEs with various capital finance solutions, including receivables financing, payables financing and short-term loans. The funding from Pollen Street
will help it offer easier access to quality financing options for SMEs in the region, the firm said.
“We are thrilled to partner with CredibleX and provide this senior secured facility to further support the business as it grows and expands its loan book,” said Matthew Potter, partner at Pollen Street.
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“The team have extensive experience in lending and building businesses in the region for over 20 years. This deal is also a milestone for Pollen Street as our first transaction in the region, following the opening of Pollen Street offices in Abu Dhabi, illustrating our strong pipeline and ability to be selective with opportunities to deliver attractive risk-adjusted returns for our investors.”
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