Firms acquire stake in Crediti Fintech
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.”