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FinTech Klub expands in the Middle East with credit fund licence

By Delisha Fernandes

February 06, 2024

  • credit funds
  • credit products
  • fintech MENA

KlubKlub, the Indian Revenue Based Financing (RBF) platform, has expanded to the Middle East and has secured the relevant permission (Category 3C) to manage private credit funds under the newly instituted credit fund regime by the Financial Services Regulatory Authority (FSRA), Abu Dhabi Global Markets (ADGM).

Anurakt Jain, Co-Founder and CEO at Klub, said, “As a company, we have consistently embraced the mission of driving growth for local businesses. Our expansion to the Middle East, starting with the UAE, is the first step in this direction. 60% of the region’s GDP is driven by SMEs which are starved for fast and flexible financing solutions. Klub will bridge this gap.”

This regulatory approval marks a pivotal moment in Klub’s journey, granting them the distinction of being the first Revenue Based Financing focused credit fund to expand in the Middle East region. One of the key strategic advancements is the establishment of an AED 1 billion credit umbrella focusing on investing in credit products for the growth of SMEs and startups in the region.

Klub’s pioneering technology platform offers a speedy and fully digital application and assessment process for the provision of flexible credit to digital SMEs and democratises seamless access to a wide range of financing products. This licence will allow Klub to collaborate with regulated banks in the region.

Ishita Verma, Co-Founder and COO, added, “Since inception, Klub has deployed over AED 400 million to digital businesses in India. We’re thrilled to bring our technology and e-commerce financing expertise to a new region in the Middle East, contributing to its entrepreneurial ecosystem. “

Klub’s expansion into the Middle East signifies a transformative moment in the landscape of Revenue Based Financing. Klub’s technology suite paves the way for more accessible and innovative AI-enabled financing solutions, and the platform remains dedicated to supporting the growth and success of businesses on an international scale.

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