Numou, a subsidiary of Abu Dhabi Global Market (ADGM), has significantly expanded its digital lending marketplace by partnering with prominent institutions, including the Khalifa Fund for Enterprise Development and private credit providers such as Credible-X, Klubworks, and NymCard Payment Technologies. This initiative aims to revolutionize financing for small and medium-sized enterprises (SMEs) in the United Arab Emirates (UAE), offering a seamless, fully digital application process that connects businesses directly with suitable lenders.
SMEs constitute approximately 94% of all companies in the UAE and contribute around 40% to the national Gross Domestic Product (GDP). Despite their significant role, many SMEs face challenges in securing timely and adequate financing. Data from the UAE Central Bank indicates that loans to SMEs represent just 9.5% of the total cumulative financial facilities extended to the commercial and industrial sectors.
Numou’s digital platform addresses these challenges by simplifying the lending process, enhancing transparency, and fostering competition among lenders to achieve better outcomes for SMEs. Businesses can submit a single, standardized online application that meets the varying requirements of multiple lenders, eliminating the need for repetitive paperwork and physical branch visits. The platform also provides visibility into lenders’ interest rates, loan terms, and turnaround times, enabling SMEs to make informed financing decisions.
For financial institutions, Numou offers efficient credit assessment by providing well-organized, standardized applications that streamline internal processes and reduce redundant data validation, thereby accelerating approval timelines. Additionally, Numou collaborates with lenders to develop innovative financial solutions tailored for SMEs, promoting economic growth and business development.
To further enhance its offerings, Numou is actively expanding its network to include both digital and traditional banks, ensuring SMEs have access to a broader range of financing options and innovative products. This growing network reflects Numou’s mission to deliver a comprehensive solution for SME financing in the UAE.
Arvind Ramamurthy, Chief Market Development Officer at ADGM, stated, “Numou exemplifies ADGM’s commitment to empowering SMEs as a cornerstone of Abu Dhabi’s economy. By leveraging innovation and collaboration, this platform simplifies access to critical financing, fostering sustainable growth and strengthening 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 together a comprehensive suite of lending options on a single platform, we’re enabling businesses to access the capital they need to grow faster and more efficiently.”
