CredAble, a fintech firm, has secured debt capital from SIDBI totaling Rs 30 crore ($3.6 million).
The money will be utilized to expand operations and provide MSMEs and women-owned enterprises in India with accessible financing options.
CredAble has established a comprehensive working capital infrastructure to digitize corporate-led finance and underwriting needs, going beyond conventional banking and lending products.
Read also – Purplle Secures $100 Mn Funding from ADIA
On CredAble’s platform, there are more than 35 major banks and financial institutions, over 125 corporate clients, and over 3,50,000 small business borrowers.
CredAble is a financial firm that offers working capital to financial institutions, MSMEs, and large, mid, and growing corporates.
The company recently dedicated Rs 200 crore to back women-led enterprises and has supported more than 50 such businesses across India over the course of 10 months.
In a fresh funding round led by Singapore-based Equentia Natural Resources, CredAble secured $10 million in March. Thus far, it has raised around $60 million.
About CredAble
Founded in 2017 by Nirav Choksi and Ram Kewalramani, CredAble’s working capital infrastructure boasts of a range of scalable products and value-added financing solutions that are engineered for businesses of all sizes. We are shaping the future of working capital management and trade finance with a 360° tech-enabled solutions.
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