Company Overview
Crediti, a fintech business based in the DIFC and the proprietor of the MoniMove portal in the UAE, was established in 2019. The platform, which is run by Protiviti and uses blockchain based technology to empower SMEs, was created in partnership with Deloitte utilizing cutting-edge OutSystems technology.
In the UAE, MoniMove Ltd. UK’s sole country partner is Crediti Fintech. The business was founded to support small and medium-sized enterprises in their efforts to grow, improve customer experiences, increase profits, and do much more. Crediti intends to contribute significantly to the expansion of the country’s economy by sharing UAE’s goal.
The platform uses blockchain technology to protect transactions and enable cashless and paperless exchanges throughout the ecosystem. It provides cutting-edge instruments to protect the interests of both consumers and suppliers, assisting in the eradication of the black market and promoting financial inclusion.
Key Executives
H.E. Abubaker Alkhouri
Chairman
13 years of financial and investment experience, including in Europe and Asia, were brought with Abubaker Al Khouri. He was Sorouh Real Estate’s managing director. Al-Khouri was in charge of managing the private equity portfolio while employed as the associate director of the (ADIA) Abu Dhabi Investment Authority.
Hashim Alhussaini
Founder & CEO
With a bachelor’s degree from (UBT) the University of Business & Technology, Hashim Alhussaini is a successful businessman and business management expert. He was chosen in 2020 to join the Banking Commission as well as Trade Facilitation as one of the top 3 FinTech Entrepreneurs in the UAE. He has more than 16 years of experience managing various types of trading & construction firms in the GCC, as well as in trade finance, credit, and risk.
Products & Services:
The products
All trade players can benefit from Crediti Fintech’s working capital financing solutions for local and global trade. Crediti is providing an end to visibility and transparency using Monimove, a blockchain-enabled platform, in order to reduce operational risk, resolve disputes, optimize the trade cycle, and boost ecosystem trust.
Banks, governmental organizations, property developers, nonprofit organizations, and any other businesses interested in cost-cutting and market leadership are among the targets of Crediti. The platform provides the following financial products to help businesses and SMEs manage their liquidity and working capital better:
Accounts receivable Financing
- Suppliers Financing
- Capital Financing
- Digital Letters of Guarantee
- Infrastructure Financing
- Big Corporates & SME Financing
Solution:
TradeMove
You can obtain comprehensive transparency into the purchasing process with TradeMove’s purchasing solution, enhancing your spend processes, while saving time.
- Digitized purchase process
- Tools for real-time inspection and tracking of vendor orders
- Possibility of paying bills through banking partners
- A viewer-friendly dashboard with real-time updates
- Capabilities for uploading photos and videos that are better protected
- Immutable trade documents that are automatically generated
- Greater openness, less mistakes, and quicker communication
- Monitoring and management of the budget
Services:
Vendors:
Obtain prompt payment for unpaid invoices
Improved cash flow management.
Manage controversies and fraud
Gain from decreased costs
SMEs:
- Greater likelihood of obtaining financial services from banks
- Enhance planning and management of liquidity
- Cultivate a reputation for reliability and trust in the marketplace
Society:
- Reduce poverty and boost jobs for society
- Boost various sectors’ profitability
- Establish trustworthiness and openness as virtues in society
- Increase efficiency throughout the board
Government:
- Guards against unexpected supply-chain breakdowns
- Enables and safeguards SMEs
- Fight tax evasion and unregulated marketplaces
- Increase GDP and economic expansion
- Decreases court litigation
Company Reviews
The HSBC UAE “Connected FinTech Program” chose Crediti, the finest platform for “Digitization of MURABAHA Process” as one of the best Fintechs, and it was nominated by ICC for the finest fintech firm award in the UAE.
Related News
To increase SMEs’ access to trade financing, RAKBANK joins the UAE Financing Gateway in collaboration with Etihad Insurance Services.
Businesses in the UAE will be able to apply for secured debt from RAKBANK, backed by Crediti Fintech’s platform Monimove, through one, integrated platform, thanks to the government’s credit insurance coverage.
By streamlining complicated, perplexing, and time-consuming procedures, UAE Trade Finance Portal aims to solve the lack of available trade finance services for small and medium-sized businesses.
With standardized procedures for counterparties to monetize their receivables, the UAE Trade Finance Gateway enables seamless coordination between customers, vendors, the lending bank, and ECI.
To help this project, ECI has been creating a powerful network of banks. RAKBANK is the 3rd financial institution to join this project, demonstrating the robustness of the banking infrastructure in the UAE that can meet the essential financial demands of businesses.
MDC BMS and Crediti Fintech, both owned by Mubadala, collaborate to optimize supply chain activities.
In accordance with the agreement, the skills of Crediti Fintech, a financial technology company revolutionizing the UAE’s supply and trade chain automation through its prize platform, and MDC, a multi functionalized services company providing exceptional business and management operational processes for clients within the UAE, will be combined.
Clients will benefit from actual reports and analytics, cost and time savings, increased governance, and the elimination of manual chores thanks to the platform. The supply chain financing services, sophisticated digital delivery monitoring, and realtime site inspection capabilities will be advantageous to the suppliers.
All parties will be able to join to the UAE’s ambition of assisting regional small & medium businesses (SME) and fostering the growth of the national economy thanks to this cooperation, which aims to target substantial amounts of transactions.
Royal Strategic Partners and Global Links, two UAE companies, purchase majority of Crediti Fintech’s shares.
55% of the shares of Crediti Fintech have been purchased by Royal Strategic Partners (RSP), an associate of the Abu Dhabi Capital Group (ADCG) and Global Links Holding, two prominent business development firms with varied portfolio of businesses across such a vast spectrum of market sectors.
The award-winning Monimove platform, which introduces the next gen of credit utilization, supply chain management, and trade finance, is only sold by Crediti Fintech in the United Arab Emirates.
Based on its existing successes and anticipated business with numerous governmental organizations and financial partners, Crediti FinTech was valued at $100 million. This valuation results from a cutting-edge solution that facilitates a seamless digital transformation throughout the trading ecosystem.
At Crediti FinTech Ltd., Abubaker Seddiq Al Khouri will serve as chairman. Crediti will have a significant part in the national economic expansion and in building a transparent and reliable ecosystem to help SMEs, which is essential, especially in these difficult times, by adhering to the UAE’s goal.
Global trade leaders is an extensive repository of the world’s most efficient FinTech and trade finance companies. Learn more about global trade finance leaders at https://www.globaltradeleaders.com/.
