Crediblex said on Wednesday March 12 that he would integrate MasterCard‘s Credit analysis for small businesses (SBCA) in its integrated financing platform.
This integration will allow Crediblex to improve financial inclusion for small and medium -sized enterprises (SMEs) through the United Arab Emirates (Water), companies said on Wednesday press release.
SBCA can provide performance data on a small business, with business consent, to lenders to help them assess the financial and retail sales of the company, according to the press release.
For CREDIBLEX, these data will help them make more informed loan decisions, reduce the subscription time and improve risk management, the press release said. With a more complete assessment of the financial health of a company available to it, the company will be able to help SMEs to obtain better loan conditions and access higher credit amounts.
For small businesses, Crediblex and Mastercard’s partnership will improve and simplify their access to financing, by helping them overcome the obstacles to which they are often confronted due to a credit history or a lack of formal documentation, according to the press release.
“By combining Crediblex’s expertise in loans with MasterCard Advanced Analytics, we establish a new reference for data focused on data (SMB) in the region”, Crediblex co-founder and product manager Hassan Reda said in the press release.
SELIN BAHADIRLIExecutive vice-president, services, EEMEA at Mastercard, said in the press release: “Together, we aim to empower (SMEs) with better access to credit, improved loan conditions and improved growth possibilities.”
Crediblex raised $ 55 million in a round of seeds in December, saying that it aims to grow and expand it Integrated financing Solutions for SMEs. The company’s solutions are designed for the SMEs of water SMEs and are integrated into the daily operations of SMEs.
At the time, CREDIBLEX had 37 integrated partners as well as debts / securitization suppliers.
In August, Crediblex joined forces with Fracxn to give SMEs access to a variety of financing solutions. Companies said at the time that FRACXN’s instant financing solutions for SMEs would be added to the financial solutions proposed by CREDIBLEX.
The solutions activated by the collaboration of crediblex and FRACXN include the financing of receivables, financing based on income, the financing of the verses and the purchase now, pay later (BNPL) for companies.
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