Credable, a Dubai-based fintech, has raised $2.5m in a seed funding round to expand its offering in Africa and the Middle East. Credable provides businesses such as e-commerce platforms, mobile operators and logistics firms with the necessary technology and banking infrastructure to enable them to offer financial products to their customers. Credable already offers six products across Kenya, Tanzania and Uganda, including savings products, term loans, overdrafts, asset financing and other credit solutions, and has helped disburse $5m worth of loans and seen $3m worth of deposits. Credable will use the funding to expand to other markets, launching four more products this year and partnering with businesses in the MENAP and West Africa region, including Pakistan and Nigeria.

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