Emirates NBD extends digital financing to Cars24 Arabia

Emirates NBD has extended a digital revolving short-term financing facility to Cars24 Arabia, a used-car platform in the UAE. The bank's automated lending system, connected to Cars24 Arabia's digital platform via an API, enables eligible dealers and business partners to draw funds, make repayments, and replenish credit limits through a fully digital process. This integration significantly reduces the time required for loan creation, utilization, and repayment, transforming the process from days to seconds.

The facility, which the bank did not disclose specifics on, provides straight-through processing, allowing credit limits to refresh after repayments and offering dealers greater flexibility in managing liquidity. Emirates NBD's group head of business banking, Hamad Mohamed Zayed, highlighted Cars24 Arabia's consistent growth and commitment to raising standards in the UAE car market. The bank's confidence in the company's growth trajectory was reflected in this digital financing arrangement.

Cars24 Arabia's chief executive, Abhinav Gupta, emphasized the scale of the business and the direction of its growth, describing the financing structure as flexible. This arrangement broadens the existing relationship between the two companies, as Cars24 Arabia had previously collaborated with Emirates NBD on a digital auto-loan journey for retail customers. For Emirates NBD, this transaction is part of a broader strategy to embed lending services into the digital platforms used by commercial clients and their partners.

The new facility aligns with the growing trend of integrating digital lending into commercial platforms, especially for businesses requiring frequent, short-duration access to capital. Banks are increasingly utilizing APIs to streamline credit decisions, disbursements, and repayments, reducing processing times while maintaining internal eligibility and compliance controls.