~ Its captive NBFC processed MSME invoices totalling over INR 900 crore, with nearly INR 2,000 crore in annualized disbursements in the last 12 months~
India, 11th January 2024: CredAble, India’s only full-stack fintech company specializing in working capital solutions, has cumulatively facilitated financing of over INR 45,000 crore across their platforms this year.
It has also been a year of profound learning for the company on the trade finance front, as its trade platforms have enabled transactions of over INR 5,000 crores, marking the commencement of an exciting new product journey that synergizes with their existing working capital solutions.
With a strong continued commitment towards enabling MSMEs to unlock growth capital, CredAble’s captive NBFC also processed MSME invoices totalling over INR 900 crore and hit INR 2,000 crore in annualized disbursements in the last 12 months.
Through a proven track record in providing accessible, flexible, and efficient financial support, CredAble continues to lead the charge in fostering economic growth across sectors and contributing to the overall success of various sectors.
Commenting on this remarkable year, Nirav Choksi, Co-founder & CEO of CredAble, stated, “Our anchor-led supply chain lending has not only proven innovative but also secure, empowering traditionally underserved vendors to successfully monetize their working capital cycles. Moreover, these milestones reaffirm our commitment to driving financial inclusivity and innovation in the supply chain financing landscape. We remain dedicated to empowering businesses, both large and small, with flexible and robust working capital solutions, and we are excited about the continued positive impact and value we will create in the years to come.”
Standing as India’s only holistic working capital tech platform, CredAble has been meticulously designed as a comprehensive infrastructure addressing the end-to-end ‘order-to-cash’ cycle. This strategic approach aims to solve the $375 Billion working capital gap faced by businesses in India, recognizing the persistent struggle with working capital financing in the market.
Regarding the working capital financing challenges faced by MSMEs, which are burdened with unending funding woes, CredAble plays a pivotal role in driving financial empowerment. In alignment with the same, Mr. Ram Kewalramani, Co-founder & MD, CredAble said, “Our target for the next calendar year is ambitious yet achievable – a 100% increase in SME transactions, while maintaining cost-effectiveness. As we deepen our domestic relationships, we anticipate substantial growth in our annual disbursements, supporting India’s thriving MSME segment. He further added, CredAble’s commitment to fostering financial inclusion, providing tailored solutions that empower MSMEs to navigate the complexities of their financial ecosystem.”
CredAble’s platform boasts an impressive user base, with over 275,000 SMEs, 125+ corporates, and collaboration with 35 large financial institutions. With a team of ~300 employees, the company serves across 20+ states and has a presence in seven countries. With a clear vision and a commitment to innovation, it is poised to continue its trajectory of growth and create value to the working capital landscape and its participant.
