Mashreq Bank and Emirates NBD have invested in NewBridge, a fintech company and the owner of LoanBook, a platform specializing in syndicated loans and private credit across Europe, the Middle East, and Africa.
The financial terms of the deal were not disclosed.
According to a report by NewBridge, which has its headquarters in both London and Dubai, the investment aims to enhance the efficiency of the digital syndicated loan market.
The platform provides clients with advanced loan solutions, creating more growth opportunities and accelerating the pace of financial transactions.
Previously, the platform facilitated loans worth billions of dollars for government institutions, further solidifying its financial stability.
LoanBook aspires to attract annual funding of $5.5 trillion to cover its primary syndicated loans and support the development of various projects, including fintech-driven entrepreneurial ventures within the UAE market and the wider region.
