Gulf Today

Firms acquire stake in Crediti Fintech

- Business Bureau, Gulf Today

DUBAI: Royal Strategic Partners (Rsp)and Global Links Holding, both leading business developmen­t companies, have acquired 55 per cent of Crediti Fintech shares, thereby becoming the majority shareholde­rs of Crediti Fintech.

Crediti Fintech is the exclusive reseller of Monimove plaform in the UAE, an award-winning plaform introducin­g the next generation of credit utilizatio­n, supply chain and trade finance.

Crediti Fintech Ltd got a valuation of $100 million based on the current achievemen­ts and the forecasted business with various government­al entities and banking partners. This valuation is derived from an innovative solution enabling a smooth digital transforma­tion across the trade ecosystem.

Abubaker Seddiq Al Khouri will be the Chairman of Crediti Fintech Ltd, under his leadership and building on RSP’S strategy and add value to the country. Crediti Fintech will be able to pursue its goal of revolution­izing the current credit utilizatio­n model, introducin­g a seamless trade solution, and supporting local businesses.

Dr Hamad Al Ali, RSP CEO said: “This transactio­n fits perfectly with RSP’S strategy and vision to create and develop pioneering technology products and build a sustainabl­e eco system for enhancing user experience. We envisage that our experience would help the Monimove plaform make a positive impact within the UAE.

Hashim Al Hussaini, Crediti Fintech CEO and Monimove plaform co-founder said: “We are excited to combine our innovative technology with the experience of our new partners, strong presence in the market and their deep expertise will expedite our growth enabling us to lead the market and together, we will fundamenta­lly change the business culture, we will unlock the full potential of digital trade while fighting the parallel economy and supporting SMES, something that Crediti considers an integral part to its success.”

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Top officials pose for a group photo in Dubai.
↑ Top officials pose for a group photo in Dubai.

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