Digital lending platform Numou launches to support SMEs in UAE

By Gloria Methri

Numou, a digital lending marketplace, has officially launched in Abu Dhabi and the UAE to transform the financing landscape for small and medium-sized enterprises (SMEs).

This fully digital platform enables businesses to access a diverse range of financial products through a streamlined online application process, connecting them directly with suitable lenders.

In the UAE, SMEs constitute approximately 94% of the total number of companies and contribute around 40% to the national GDP. Despite their significant role, many SMEs face challenges in securing timely and adequate financing.

Numou addresses this gap by offering a user-friendly platform where businesses can submit a single online application, which is then shared with multiple lenders. This process ensures transparency and efficiency and empowers SMEs to choose the most favourable financing options.

For SMEs, Numou simplifies the loan application process by collecting comprehensive business data that meets various lenders’ requirements. This significantly reduces paperwork requirements and eliminates the need for multiple separate applications and physical branch visits.

The platform provides visibility into lenders’ rates, terms, and turnaround times, enabling informed decision-making and reducing overall cost and loan processing time through competition.

Meanwhile, lenders receive standardised applications that facilitate efficient credit assessments, reduce the need for information revalidation, and expedite the approval process.

Khalifa Al Zaabi, General Manager of Numou, said, “By bringing together a comprehensive suite of lending options on a single platform, we are enabling businesses to access the capital they need to grow faster and more efficiently. Numou is a testament to Abu Dhabi’s commitment to supporting the SME sector, which plays a pivotal role in developing and diversifying the economy. It complements various initiatives to enhance SMEs’ access to funding, increase access to market opportunities, capacity-building programmes, and ease of doing business.”

Looking ahead, Numou plans to expand its offerings to include supply chain financing (factoring) and equity financing, further broadening the financial products available to SMEs.