Fintech Firm Credable Rebrands to _able Following Significant Loan Milestone
Based in Dubai, _able—formerly known as Credable—has established itself as a pivotal fintech company, powering lending and savings products throughout Africa after facilitating over $650 million in loans. The rebranding reflects the company’s ambition to diversify beyond its foundational digital credit offerings.
Expanding Role in Financial Technology
Working alongside renowned partners such as M-PESA, Airtel, Access Bank, and Diamond Trust Bank (DTB), _able’s new name signifies its evolution from a mere digital credit provider to a comprehensive financial technology platform. The company now delivers essential infrastructure, risk management, and portfolio management systems that support a variety of financial products, including lending and savings.
Meeting Growing Demand for Digital Financial Services
The rebranding aligns with an increased demand for technological solutions that empower digital financial services. As financial institutions and mobile carriers continue to innovate their lending and savings products, they increasingly rely on specialized providers like _able for the requisite technology, underwriting, and management systems necessary for success.
Building Infrastructure for Financial Accessibility
Nadeem Juma, co-founder and CEO of _able, highlighted the shift in the company’s mission, stating, “Over time, it became clear that our role was no longer just about determining who can be trusted; it was about building the infrastructure to enable financial access at scale.” This transition is particularly vital in sub-Saharan Africa, where small and medium-sized enterprises face an estimated $100 billion financing gap, intensifying the need for companies that can facilitate efficient credit distribution and risk management.
Innovative Funding Approach
Unlike conventional lenders, _able does not primarily finance loans from its own balance sheet. Instead, it operates as an intermediary, connecting capital providers with distribution channels. The company offers technology, risk models, and portfolio management systems that enhance efficiency, allowing banks, development finance institutions, and investment funds to provide funding. This collaborative model has enabled _able to facilitate over $650 million in financing while securing approximately $2.7 million in public funding from notable investors, including Ventures Platform, Launch Africa, Plug and Play, MAGIC Fund, and AAIC Investment.
Expanding Access to Financial Products
Although _able is widely recognized for its digital credit services, it recently announced enhanced availability of its lending and savings technology to a broader array of banks, carriers, and fintech institutions. This flexibility allows these organizations to launch financial products without the substantial overhead required to develop their own risk and portfolio management systems.
Future Growth and Mission Continuity
As part of its strategy, _able is opening its credit and savings infrastructure to additional distribution partners and funding sources, seeking to expand its reach beyond its current customer base of over 40 million across Kenya, Tanzania, Uganda, Mozambique, and Zambia. Juma reaffirmed the company’s commitment by stating, “Our mission remains the same. We believe credit is one of the most powerful tools for economic empowerment. Our goal is to help hundreds of millions of people around the world gain access to credit and savings.”
Founding and Operational Background
Founded in 2021 by Juma, former private equity executive Jad Abbas, and technology expert Michael Tarimo, _able’s headquarters in Dubai are complemented by an operational hub in Nairobi, a market and innovation center in Dar es Salaam, and a technology and intelligence hub in Pune, India. This strategic presence positions the firm to effectively contribute to shaping the future of financial access across Africa.
