The financing will support Deem’s expansion into consumer and SME lending, as demand for non-bank credit grows across the UAE.

Deem Finance, a UAE-based non-bank lender backed by the Gargash Group, has secured a $400 million debt financing facility from JP Morgan. The asset-backed securitisation (ABS) deal is structured as a senior revolving facility and is backed by receivables from across Deem’s existing portfolio, including credit cards and other consumer financial products.

The funding is set to enhance Deem’s balance sheet and support the company’s ongoing expansion into consumer and small business lending. Deem currently offers a suite of products targeting underserved segments in the UAE, ranging from personal loans and credit cards to auto loans and SME financing.

Daman Investments acted as Deem’s financial advisor for the transaction. The facility marks a significant step in the lender’s strategy to diversify its capital base and meet the growing demand for alternative financing solutions in the UAE.

Founded in 2019, Deem Finance is fully owned by the Gargash Group, a family-run conglomerate with longstanding operations in both the automotive and financial services sectors. The deal aligns with a broader trend in the region, where non-bank financial institutions are tapping international capital markets to bolster lending capabilities and fuel fintech innovation.