Ablecredit is an AI credit underwriting startup that has raised $1.25 million in a seed funding round led  by an early-stage VC startup, Merak Ventures. The seed funding round had participation from Venture  Catalysts, Helios Holdings, and a sector-agnostic early-stage venture Capital company, Merak Ventures.  

India has a credit gap of Rs 25 trillion, caused by a shortage of qualified underwrites and high  underwriting costs. Ablecredit aims to solve this issue using its AI products and solutions. This AI credit  underwriting startup aims to close this credit gap across the country. The startup will use this fund to  enhance and advance its technology to offer a seamless experience to its users. They are currently  working on a Gen AI model with vision, voice, and language capabilities which will be an AI assistant  for the credit team. The startup claims this model can generate comprehensive credit reports on each  case bias while following the credit guidelines and policies. 

Image source: ablecredit.com 

Ablecredit plans to use this fund to scale up operations, enhance its AI model, and expand its business.  Merak Ventures said the investment was made after seeing the impactful solutions offered by  Ablecredit for real-world challenges. Partner at Merak Ventures, Manu Rikhye highlighted that credit  underwriting is an expensive and time-consuming process in loan disbursement. Ablecredit’s  innovative solution offers both efficiency and speed in this process helping companies to make faster  and efficient decisions. The company believes in Ablecredit’s market potential and business model.  

The startup intends to use this fund to scale up its in-house R&D infrastructure, hire teams for business  development, expand to the global market, and enhance its technology. Merak Ventures is a B2B  Venture Capital Firm that has previously invested Rs 10 Crore Seed fund in a supply-chain startup,  Atomgrid. The startup not only focuses on filling the credit gap but also aimsto make a global presence. 

Conclusion: 

Ablecredit is an AI credit underwriting startup offering AI products and solutions for credit  underwriting. The startup got seed funding of $1.5 million from Merak Ventures. The seed funding  round had participation from Venture Catalysts, Helios Holdings, and a sector-agnostic early-stage  venture Capital company, Merak Ventures. This AI credit underwriting startup aims to close this credit  gap across the country. The startup will use this fund to enhance and advance its technology to offer  a seamless experience to its users. Ablecredit’s innovative solution offers both efficiency and speed in  this process helping companies to make faster and efficient decisions. The company believes in  Ablecredit’s market potential and business model. The startup intends to use this fund to scale up its  in-house R&D infrastructure, expand to the global market, and enhance its technology. They are  currently working on a Gen AI model with vision, voice, and language capabilities which will be an AI  assistant for the credit team. The startup claims this model can generate comprehensive credit reports  on each case bias while following the credit guidelines and policies.