How fast is Alternative Credit growing?

Alternative credit, also known as private credit or private debt, is specialized private financing offered by non-traditional lenders to companies and individuals. It utilizes non-mainstream data like rent and utility payments to assess creditworthiness, particularly for those with limited traditional credit history. This form of financing is gaining significant global interest from investors due to attractive returns and is seeing a surge in regions like the Middle East for SMEs and real estate, with Saudi Arabia's alternative lending platform market showing considerable growth.