CredAble, a Mumbai-India-based AI-powered technology platform enabling working capital financing across enterprise ecosystems using state-of-the-art technology, digital KYC and onboarding, deep ERP, and bank integrations, raised $30 million in Series B round co-led by Plutus Wealth Management LLP and its associates and their existing investor Oaks Asset Management.
The funds raised in this round will be used to enhance CredAble’s platform to constantly innovate and penetrate deeper into the ecosystem, to provide working capital solutions that are tailor-made for small businesses, and to create innovative Debt Capital Market products for corporates and financial institutions.
Round: Series B
Funding Month: October 2021
Lead Investors: Plutus Wealth Management LLP and Oaks Asset Management
Company Website: https://www.credable.in/
Software Category: AI-powered technology platform
About the Company: CredAble is a FinTech platform that is reimagining working capital financing by providing liquidity programs for enterprise eco-systems using state-of-the-art technology platforms, digital KYC and onboarding, deep ERP and bank integrations, and digital documentation and transaction management. Leveraging trade finance expertise, partnerships with capital providers, and leading technology and data analytics, CredAble can provide comprehensive trade flow financing solutions to leading corporates across Asia in areas of Payable and Receivables financing, Inventory financing, and securitization, Debt capital markets, and SME financing. The Company was awarded under the Fintech category at NASSCOM Emerge 50 Awards 2020 and as the Best Supply Chain Finance Solution of the Year 2019 at the Inflection 2019, a leading supply chain summit. The Company was selected into the Oracle Startup Cloud Accelerator Program 2018, SAP Startup Studio Cohort 2020, and was also recognized by the Maharashtra Government as the Best FinTech Startup 2018.