Credible, based in Dubai, raised $2.5 million in the seed round

A financial platform based in Dubai In the yearTrusted.ioIn the year It received $2.5 million in seed. The funding round was led by Ventures Platform, with participation from other VCs and angel investors including Launch Africa, AAIC Investment, MAGIC Fund, Adaverse/Emurgo Africa and ACASIA Ventures.

as see TechCrunchCredible will use the fresh capital to expand into other markets, including Nigeria and Pakistan. It is currently present in Tanzania, Kenya and Uganda and has more than 1.2 million customers, including both consumers and small businesses.

You liked this story” contenteditable=”false” data-new-ui=”true” data-explore-now-btn-text=”Explore Now” data-group-icon=”https://images.yourstory.com/assets /images/alsoReadGroupIcon.png” data-pageurl = “https://yourstory.com/ys-gulf/dubai-credable-embedded-finance-seed-funding-round” data-clickurl = “https://yourstory.com “/ys-Gulf/Arab-Mother’s-Day-to-meet-with-women-who-are-at-home-with-the-children-who-do-all-work-at-the-same-time” data-headline=”1020 people Beloved This story” data-position=”1″ data-sectiontype=”Also Read” data-emailid=”pooja.r@yourstory.com”>

In the year Founded in 2021 by Nadeem Juma, Jad Abbas and Michael Tarimo, Credible aims to bridge the gap between financial services and the underbanked in its target markets.

Instead of creating a new channel for banks, fintech startups are leveraging everyday channels like telco-led mobile money, ecommerce platforms and gig economy applications to provide banking services to customers. The platform has helped provide loans worth $5 million.

In May 2022, Credible partnered with Vodacom M-Pesa to introduce a 30-day loan product in Tanzania and a short-term loan product to Diamond Trust Bank of Kenya.