Royal Strategic Partners (RSP), an affiliate of the private institutional investment house Abu Dhabi Capital Group (ADCG) and Global Links Holding, a leading business development company, have acquired 55 percent shares of Crediti Fintech.
Crediti Fintech is the exclusive reseller of the Monimove platform based in the Dubai International Financial Centre (DIFC), an award-winning provider of the next generation of credit utilization, supply chain and trade finance.
Based on the current achievements and the forecasted business with various governmental entities and banking partners, Crediti FinTech Ltd got a valuation of $100 million and it is derived from an innovative solution that enables a smooth digital transformation across the trade ecosystem.
Monimove platform, which provides the new generation of financial technologies, 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 end-to-end transparency throughout the trade cycle, increasing credibility and reliability in the business while reducing cost and managing risks.
Further, these values are 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 a strong presence in the region and expertise in the areas of technology, finance, banking, blockchain, risk, compliance, and business transformation.
“This transaction fits perfectly with RSP’s strategy and vision to create and develop pioneering technology products and build a sustainable ecosystem 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, CEO of RSP.
Abubaker Seddiq Al Khouri will be the Chairman of Crediti FinTech. By aligning with, UAE’s vision, Crediti Fintech will play a key role in the economic growth of the country and in creating a credible ecosystem to support Small and medium-sized enterprises (SMEs).
Founded in 2019, Crediti is a DIFC fintech company and the exclusive reseller of the Monimove platform in the UAE and it is operated by Protiviti, a global consulting firm. The platform was built using advanced OutSystems Technology and it utilizes Blockchain technology to support SMEs and National economies by providing End to End visibility, credibility, efficiency and complete ecosystem transparency to full supply chain management.