CredAble digitizes corporate-led financing and underwriting to provide working-capital solutions to financial institutions, MSMEs, and corporates of all sizes. The platform reports over 125 corporate clients, more than 350,000 small business borrowers, and partnerships with over 35 major banks and financial institutions. Founded in 2017 by Nirav Choksi and Ram Kewalramani and based in Mumbai, the company grew operating revenue from Rs 4.92 crore in FY22 to Rs 13.94 crore in FY23 while reporting losses of Rs 22.40 crore in FY23. The article states CredAble secured Rs 30 crore in debt from SIDBI and a $10 million injection led by Equentia Natural Resources; the piece also reports total raised as nearly $60 million while a header lists $8.11M. CredAble plans to expand product lines and extend its financing scope, and has allocated Rs 200 crore to support over fifty women-led enterprises. Its growth-oriented strategy emphasizes digitization and partnerships with corporates and banks despite increased losses as it scales. CredAble (tradename for Equentia SCF Technologies Pvt Ltd and its wholly owned Equentia Financial Service Pvt Ltd) offers working-capital financing for vendors, distributors, dealers and retailers. The platform positions itself as a preferred working-capital solution provider to enterprise customers and financial institution alliances and emphasises fintech–bank partnerships to improve customer experience. It plans to use fresh funding to expand growth and deepen ties with existing enterprise customers and bank partners. CredAble was incorporated in July 2018. Financially, the company reported total income of Rs 8.35 crore in FY22, Rs 2.46 crore in FY21 and Rs 27.64 crore in 2019–20. Nirav Choksi, co‑founder and CEO, said the investment validates CredAble's journey and alignment with incoming investors' vision. CredAble is an AI-powered technology platform that provides working capital financing across enterprise ecosystems using digital KYC and onboarding, deep ERP and bank integrations, and digital documentation and transaction management. The company offers payable and receivable financing, inventory financing, securitization, debt capital markets solutions, and SME financing by partnering with capital providers and leveraging trade finance expertise and data analytics. CredAble plans to use its new funding to enhance its platform, innovate continuously, and penetrate deeper into enterprise ecosystems. It intends to deliver tailor-made working capital solutions for small businesses and develop innovative debt capital market products for corporates and financial institutions. The firm has received recognition including NASSCOM Emerge 50 (Fintech category), Best Supply Chain Finance Solution of the Year (Inflection 2019), participation in Oracle Startup Cloud Accelerator (2018) and SAP Startup Studio Cohort (2020), and an award from the Maharashtra Government as Best FinTech Startup (2018).

Total raised

$43M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Jun 2024