Dubai SME, a part of Dubai Department of Economy and Tourism, has partnered with Chi-X Digital Assets (CXDA) to revolutionize SME finance with AI solutions. CXDA, backed by JC Flowers & Co, is a leading AI-based fintech platform that provides short-term debt products for SMEs. This collaboration marks a significant milestone in the advancement of the SME sector in Dubai.
The strategic partnership aims to enhance financial awareness among SMEs, build their business capacity, and attract global investment into Dubai’s SME industry. For the first time in the region, AI will be utilized to equip SMEs with innovative financial solutions, making Dubai a major innovation hub.
Dubai SME, as a central player in supporting SME growth, understands the importance of offering market solutions and improving liquidity within the sector. By partnering with CXDA, they hope to contribute directly to Dubai’s wider economic objectives.
CXDA believes in the untapped potential of the SME sector and aims to break down barriers hindering its growth. The platform offers innovation, strong governance infrastructure, and an ESG-friendly solution. The partnership with Dubai SME is expected to usher in a new era of liquidity and growth for SMEs, making a lasting and tangible difference.
Dubai, known for its focus on pivotal sectors and attracting investment, recognizes the vital role of the SME sector in its economic agenda. Through fostering innovation, diversification, and sustainable expansion, this collaboration aims to reshape and revolutionize Dubai’s economy and the SME finance landscape.
The partnership’s key foundational elements include completing and standardizing essential information for SMEs, ensuring an intuitive user experience for loan applications, and providing thorough financial analysis tools. SMEs will have access to resources that help them navigate challenges and seize opportunities during their financial journey.
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