Numou, a digital lending marketplace, has officially launched in Abu Dhabi and the UAE, aiming to revolutionize the financing landscape for small and medium-sized enterprises (SMEs). The platform offers businesses an easy-to-use digital solution to access a wide variety of financial products through a streamlined online application process, directly connecting them with the right lenders.
SMEs make up about 94% of all companies in the UAE and contribute around 40% to the national GDP. However, many of these businesses face significant challenges when it comes to securing timely and adequate financing. Numou addresses this gap by allowing SMEs to submit a single online application that is shared with multiple lenders, ensuring transparency and efficiency. This process gives businesses the flexibility to select the most suitable financing options for their needs.
The platform simplifies the loan application process by gathering all the necessary business data upfront, which meets the requirements of various lenders. This reduces the paperwork burden and eliminates the need for multiple separate applications or in-person visits to financial institutions.
Numou also provides visibility into lenders’ rates, terms, and processing times, empowering SMEs to make informed decisions and reduce costs and processing time. Meanwhile, lenders benefit from receiving standardized applications, streamlining credit assessments, reducing the need for information revalidation, and accelerating the approval process.
Khalifa Al Zaabi, General Manager of Numou, stated, “By bringing together a comprehensive suite of lending options on a single platform, we are enabling businesses to access the capital they need to grow faster and more efficiently. Numou supports Abu Dhabi’s commitment to empowering the SME sector, which is vital for the diversification and development of the economy.”
Looking to the future, Numou plans to expand its offerings to include supply chain financing (factoring) and equity financing, further diversifying the financial products available to SMEs.
