CredAble is a Mumbai-based Fintech startup that has secured $3.6 million in a debt funding round led  by the Small Industries Development Bank of India. This funding round had from its existing and new  investors. The startup plans to use these fresh proceeds to scale up its operations, expand its network,  and provide financing solutions. 

The startup aims to offer affordable financial solutions to small, micro, Medium, and women-led  businesses in India. The funding will help the company to extend and enhance its financial solutions  globally. CredAble was founded by Ram Kewalaramani and Nirav Choki to deliver fast and flexible  solutions to working capital while solving financing challenges in SMEs, and financial institutions. The  CredAble is an NBFC offering a digital lending platform with technology-based supply chain funding  solutions.  

Image source: credible.in 

The company has well-established companies as investors including Plutus Wealth Management LLP,  Axis Bank Limited, and Oaks Asset Management. The startup is reported to have offered its financial  solutions to more than 350,000 businesses across the world. The Managing director and partner of  CredAble, Manu Prakash highlighted that the startup is focusing on meeting the growing demands of  small, micro, and medium Enterprises by providing them affordable financing to help them scale up  their operations. CredAble provides financial access to small businesses across the country by offering  them loans with affordable interest rates. 

CredAble claims to be the largest working capital tech platform across the country. The managing  director at CredAble mentioned that this investment from SIDBI will help the startup to solidify its  position and strengthen the women-led businesses including MSME sectors. The startup previously  secured $9 million from OAKS and Axis Bank to help small and medium enterprises grow according to  market needs. This Mumbai-based startup aims to help SMEs manage disbursement and solve  financing challenges. 

Conclusion: 

CredAbke has secured a debt of $3.6 million in its debt and equity round led by SIDBI. The round was  led by the Small Industries Development Bank of India and had participation from its existing and new  investors. The startup plans to use these fresh proceeds to enhance its platform, scale up its  operations, expand its network, and provide financing solutions. The funding will help the company to  extend and enhance its financial solutions globally. The firm delivers fast and flexible solutions to  working capital while solving financing challenges in SMEs, and financial institutions. The CredAble is  an NBFC offering a digital lending platform with technology-based supply chain funding solutions.  CredAble claims to be the largest working capital tech platform across the country. The startup is providing small, micro, and medium businesses with affordable financing to help them scale up their  operations. The company also offers a wide range of financial services including low interest rates on  business loans. The company is backed by known investors including Plutus Wealth Management LLP,  Axis Bank Limited, and Oaks Asset Management. CredAble has already provided its financial solutions  to more than 350k businesses globally.