Aditya Hadi Pratama · · 1 min readIndian fintech firm bags $9m from major local bank, others
CredAble, an India-based fintech firm, has raised US$9 million from Axis Bank, one of the largest banks in India based on assets, as well as from Oaks Asset Management.
CredAble co-founders Ram Kewalramani (left) and Nirav Choksi / Photo credit: CredAble
Founded in 2017, CredAble enables working capital financing across enterprise ecosystems, digital know-your-customer services, onboarding processes, enterprise resource planning, and bank integrations. It currently serves more than 100 corporate customers, over 300,000 small business borrowers, and at least 30 financial institutions and banks.
The company was established by serial entrepreneur Nirav Choksi along with fromer Grant Thorton executive Ram Kewalramani. Last year, CredAble raised US$30 million in a series B round led by Oaks Asset Management and Plutus Wealth Management.
In a statement, Kewalramani said that the firm’s focus in the next few quarters will be on accelerating customer growth and partnering with financial institutions. “This investment will also help our banking-as-a-service solutions, as well as to penetrate SMEs in India through UpScale platform,” he added.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
