Dubai: Royal Strategic Partners (RSP), an affiliate of the private institutional investment house Abu Dhabi Capital Group (ADCG) and Global Links Holding, both leading business development companies with a diversified portfolio of companies across a wide range of market sectors, have acquired 55 per cent of Crediti Fintech shares.
Crediti Fintech is the exclusive reseller of Monimove platform in the UAE, an award-winning platform 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.
Monimove platform aims to mitigate operational risk, eliminate cash usage & letter of credits, reduce disputes, and enhance trust among all stakeholders. The platform is blockchain enabled and it offers an end-to-end transparency throughout the trade cycle, increase credibility and reliability in the business while reducing cost and managing risks. These values are further enhanced by Protiviti Member Firm for the Middle East Region, Monimove’s operator cum alliance partner in the UAE and a leading global consulting firm with strong presence in the region and expertise in the areas of technology, finance, banking, blockchain, risk, compliance, and business transformation.
Abubaker Seddiq Al Khouri will be the Chairman of Crediti FinTech Ltd. By aligning with, UAE’s vision, Crediti Fintech will play vital role in the national economic growth and in creating a transparent and credible ecosystem to support SMEs which is crucial, especially in these dire times.
“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 platform make a positive impact within the UAE,” said Dr. Hamad Al Ali, RSP CEO.
