CredAble raised $10M in a new round led by Equentia Natural Resources to support working capital requirements, growth, and general corporate activities.
CredAble raised $10M in a new round led by Equentia Natural Resources to support working capital requirements, growth, and general corporate activities.
03/01/24, 7:44 AM
Location
mumbaiMoney raised
$10 million
Round Type
series c
Investors
Equentia Natural Resources
Fintech startup CredAble has raised $10 million in a new round led by Singapore-based Equentia Natural Resources. The funds will be used to meet the working capital requirements, growth/expansion, and general corporate activities. This fresh investment comes after a gap of 15 months for the Mumbai-based company.
Company Info
Location
mumbai, maharashtra, india
Additional Info
The Mumbai-based company will use the funds to launch its new product and to strengthen its tech platform, said cofounder and chief executive Nirav Choksi. CredAble provides comprehensive working capital financing solutions to corporates in the areas of payable and receivables financing, debt capital markets and financing for small and medium enterprises. CredAble is solving a huge problem by bringing in the entire unorganized vendor bases and suppliers and retailers into mainstream banking and finance, said Vishal Ootam, cofounder and CEO of Oaks Asset Management. INFounded in 2017 by Choksi and Ram Kewalramani, CredAble is an AI-powered technology platform enabling working capital financing across enterprise ecosystems using technology, digital Know Your Customer (KYC) and onboarding, deep Enterprise Resource Planning (ERP) and bank integrations.