# Credable Group

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/credable-group

- Industry: Financial Services
- Headquarters: Dubai, United Arab Emirates
- Website: www.credable.io/
- Total disclosed funding: $2.5M
- Latest round: Seed (Mar 20, 2023)
- Investors on record: 7

## About

Based in UAE, and founded in 2021 by its CEO Nadeem Juma, and co-founders  Jad Abbas, and Michael Tarimo, Credable Group operates as a fintech company that provides digital banking products to businesses and connects them to financial institutions in order to serve underbanked populations. In March 2023, Credable Group raised USD 2.5 million in seed funding led by Ventures Platform, with participation from AAIC Holdings, Acasia Ventures, Adaverse, Emurgo Ventures, Launch Africa Ventures, and Magic Fund. As of March 2023, the company's more than 1.2 million people have opened accounts on Credable’s platform, and over 200,000 customers (including consumers and SMEs) across Tanzania, Kenya, and Uganda have used its banking products.

Credable Group offers a digital platform with a wide range of products such as savings products, term loans, overdrafts, asset financing, and other credit solutions. The company partners with financial institutions including banks, micro-finance institutions, and credit funds and businesses to launch a range of financial services including savings, credit, and payments products on its B2B2C digital infrastructure. 

The company plans to use the seed funding to provide additional financial services for customers in Uganda, Kenya, and Tanzania.

## Funding rounds

- Seed, Mar 20, 2023, $2.5M — Ventures Platform, AAIC Holdings, Launch Africa Ventures, Magic Fund, Emurgo Ventures, Adaverse, Acasia Ventures

## Investors

- Ventures Platform (https://capitalatlas.ai/funds/ventures-platform) — Seed
- AAIC Holdings — Seed
- Launch Africa Ventures (https://capitalatlas.ai/funds/launch-africa-ventures) — Seed
- Magic Fund (https://capitalatlas.ai/funds/magic-fund) — Seed
- Emurgo Ventures (https://capitalatlas.ai/funds/emurgo-ventures) — Seed
- Adaverse (https://capitalatlas.ai/funds/adaverse) — Seed
- Acasia Ventures (https://capitalatlas.ai/funds/acasia-ventures) — Seed