India, 3rd August 2023: CredAble, the leading FinTech company, specializing in supply chain finance solutions, announces a groundbreaking partnership with GRIP Invest, a renowned name in the financial industry, launched “InvoiceX Bluechip 200+,” an innovative securitization transaction hosted on the GRIP Invest website. This innovative securitization transaction is set to revolutionize the landscape of short-term supply chain financing and opens new asset classes for retail investors.
“InvoiceX Bluechip 200+” is the first of its kind credit-rated, RBI-regulated, and diversified version of Invoice Discounting securitization debt instrument, backed by a pool of over 200 invoices raised on highly reputed companies as Anchors. This collaborative effort between CredAble and GRIP Invest aims to address the liquidity needs of enterprises while providing attractive investment opportunities for various classes of investors.
CredAble’s tech platform plays a crucial role in delivering GRIP Invest’s business goals. As a FinTech with a captive NBFC, CredAble’s innovative technology coupled with balance sheet support from large and strategic NBFC lenders enhances liquidity available for supply chain financing. This strengthens CredAble’s ability to provide liquidity solutions to corporate clientele and their ecosystem, creating a win-win situation for all stakeholders.
Delighted to join forces with GRIP Invest for this momentous transaction, Mr. Manu Prakash, MD and Head – Debt and Capital Markets, India SaaS & FI Coverage at CredAble said, “We at CredAble are realizing our vision of enabling large-scale liquidity programs for enterprise clients by partnering with the entire financial ecosystem, including capital markets. This partnership with GRIP Invest marks a compelling milestone in our journey to unlock working capital for enterprise clients benefiting suppliers, sub-vendors, distributors, dealers, and retailers. Also bringing together a diverse range of investors to participate in a highly rated, short-tenure investment opportunity.”
This collaboration between CredAble and GRIP Invest sets “InvoiceX Bluechip 200+” apart from other market players. It is a unique proposition that significantly reduces the concentration risk inherent in traditional capital market bonds/papers, making it an attractive investment option.
Thrilled to partner with CredAble to launch InvoiceX Bluechip 200+, Nikhil Aggarwal, CEO & Founder at GRIP Capital, said, “The strategic alliance with CredAble represents a significant milestone in our pursuit of encouraging cutting-edge investment solutions. We are delighted to be at the forefront of this revolutionary development in the financial sector and believe that “InvoiceX Bluechip 200+” will provide a win-win situation for all types of investors and businesses in the financial market at large.”
The pool of loans is Sales invoice discounting facility including both (anchors led financing as well as vendor led financing programs) originated by CredAble NBFC and have been assigned subject to eligibility criteria being complied among originator, investor, and Trustee. On account of short-term nature of underlying assets, the transaction was structured by CredAble to undertake replenishment and thus collections from the securitized asset pool can be utilized to purchase additional loans from CredAble NBFC after paying interest to investor on the PTCs on the scheduled payout dates for the first three months. Post the replenishment period, the transaction will start amortizing as per the prescribed waterfall. The rating of the Series A1 PTCs addresses timely payment of interest and final payout of principal on maturity date.
This strategic partnership is an indication of the allegiance of CredAble and GRIP Invest for businesses looking to access quick and reliable financing solutions or investors seeking to diversify their investment portfolios. By bringing a significant change to how invoice discounting is conducted, with a focus on providing enhanced services and solutions.
