ADGM launches Numou, an SME financing digital platform
By Delisha Fernandes
Abu Dhabi Global Market (ADGM), an international financial centre in Abu Dhabi, introduces Numou, a digital platform tailored to bridge the funding gap faced by SMEs.
Numou aims to connect SMEs and lenders through its seamless digital platform with features that have been designed to financially empower and support the growth of the SME ecosystem across the UAE. Built-in collaboration with OneConnect Financial Technology (OneConnect), the fintech arm of PingAn Group.
Salem Mohammed Al Darei, CEO of ADGM Authority, said, “The launch of Numou represents a significant stride forward in our ongoing efforts to enhance the financial ecosystem for SMEs in the UAE. This platform is a testament to ADGM’s commitment to creating solutions that not only address immediate financing challenges but also pave the way for a more inclusive and sustainable future for small and medium-sized businesses. Numou is set to be an instrumental tool, offering unprecedented access to financial resources and support services that are crucial for the growth and scalability of these enterprises. ”
At launch, the platform will serve SMEs with domestic businesses in the UAE, with a view to expanding the products and services to SMEs seeking to expand their international footprint. To this end, ADGM will work with government counterparts in global business hubs to facilitate cross-border data exchange and trade financing.
ADGM is also collaborating with OneConnect, which has developed similar SME financing platforms in other international centres, to build digital corridors by connecting the respective platforms in different geographical locations. As an inclusive marketplace for financiers and SMEs, Numou will initially facilitate loan-based financing from lenders including banks, alternative digital lenders, supply chain financiers and private credit funds.
Matthew Chen, CEO, OneConnect Financial Technology International (PingAn Group) said, “OneConnect is honoured to be partnering with ADGM on the development of Numou. SMEs are vital contributors to a nation’s economic growth and this platform will be a game changer for SMEs in the UAE. We are excited about the potential impact of the Numou, as it not only addresses the current challenges in SME finance but also opens up new possibilities for collaboration among key stakeholders.”
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