ADGM's Numou inks new partnerships, expands lending network for SMEs

Numou, a subsidiary of Abu Dhabi Global Market (ADGM), has announced a significant expansion of its lending partner network, solidifying its position as a pioneering digital lending marketplace. The platform has now established partnerships with several leading institutions, including the Khalifa Fund for Enterprise Development, as well as private credit providers such as Credible-X, Klubworks, and NymCard Payment Technologies.

This advanced platform aims to transform the financing landscape for small and medium-sized enterprises (SMEs) in the UAE by providing a seamless, fully digital application process. This enables businesses to access a diverse range of financial products while directly connecting with lenders that suit their unique needs. SMEs account for 94% of all companies in the UAE and contribute approximately 40% to the national GDP, playing a vital role in the economy. However, despite their importance, many SMEs continue to face persistent challenges in securing adequate and timely financing.

Arvind Ramamurthy, Chief Market Development Officer at Abu Dhabi Global Market, stated, “Numou embodies ADGM’s commitment to supporting SMEs as the cornerstone of Abu Dhabi’s economy. By leveraging innovation and collaboration, this platform streamlines access to critical financing, fostering sustainable growth and reinforcing the UAE’s position as a global hub for business and investment.” Khalifa Al Zaabi, General Manager of Numou, added, “Numou is more than just a digital lending platform; it’s a transformative tool for SMEs to unlock their full potential. By bringing a comprehensive range of lending options together on a single platform, we are empowering businesses to access the capital they need to grow faster and more efficiently.”

For SMEs, Numou offers a simplified application process. Businesses submit one standardized online application that meets the varying requirements of multiple lenders, eliminating the need to repeatedly fill out paperwork and visit bank branches in person, which significantly saves time and effort. The platform also provides transparent information on lenders’ interest rates, loan terms, and turnaround times, enabling SMEs to make informed decisions that best suit their financing needs. For financial institutions, Numou provides efficient credit assessment. Lenders receive well-organized, standardized applications, streamlining their internal credit assessment processes, minimizing the need for redundant data verification, and speeding up approval times.

To further enhance its services, Numou is actively expanding its network to include digital and traditional banks, ensuring SMEs have access to an even broader range of financing options and innovative products. In the coming months, the platform plans to launch supply chain financing (factoring) and expand into equity financing in the future. These additions will provide SMEs with greater flexibility and access to capital, ensuring they can navigate new challenges and capitalize on emerging opportunities. These future developments are closely aligned with the UAE's broader vision of fostering a vibrant and diversified economy, where SMEs play a critical role in sustainable growth and innovation.