Credable builds a B2B2C digital banking infrastructure stack that provides technology, alternative credit scoring and banking partnerships to enable embedded financial products for businesses. The company also handholds partners through product design, development and management and operates a revenue-sharing model while avoiding credit exposure by pairing clients with balance-sheet providers. Since its official launch in May it has enabled more than six products across Tanzania, Kenya and Uganda, and over 1.2 million people have opened accounts on its platform. More than 200,000 customers (consumers and SMEs) have used its banking products, which include savings, term loans, overdrafts and asset financing; the platform has helped disburse $5 million in loans and seen over $3 million in deposits. Credable plans to launch four more products this year and expand into larger markets such as Pakistan and Nigeria where regulatory conditions and channels are conducive. The company was founded by Nadeem Juma, Jad Abbas and Michael Tarimo and is based in Dubai.

Total raised

$3M

Funding rounds

1

Latest round

Seed

Latest activity

Mar 2023