CredAble secures $9m to support SMEs

CredAble, which aims to help SMEs tackle working capital and credit challenges, has raised $9m.

The capital came from Axis Bank and CredAble’s existing investor OAKS Asset Management.

CredAble says it is “reimagining working capital financing” by providing liquidity programmes for enterprise eco-systems using state-of-the-art technology platforms, digital KYC and onboarding, deep ERP and bank integrations, along with digital documentation and transaction management.

CredAble provides comprehensive working capital financing solutions to corporates across Asia in areas of Payables Financing, Receivables Financing and Securitisation, Debt Capital Markets and SME Financing.

Nirav Choksi, co-founder and CEO, CredAble said, “This direct investment by Axis Bank and the continued support from existing investors validates CredAble’s journey thus far to help India solve its working capital woes. The incoming investors and CredAble are aligned in their vision of what CredAble has stood for and what it can accomplish in the foreseeable future.”

Capify, a specialist SME lender, has launched a £40m fund for UK smaller businesses to help manage operations through difficult trading conditions.

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