🇮🇳 Roundup: CredAble says it disbursed $3b in 2021

Startups in India, including Pine Labs, CityMall, FarMart, Seekho, Pi Beam, Upcred, and OSlash, have raised at least US$167.1 million in disclosed funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

CredAble hits $3 billion in disbursements

The tech-driven platform for working capital financing said it disbursed a US$3 billion in funds in the last 12 months to more than 150,000 businesses, including large and midsized emerging corporates, and to vendors and dealers for large enterprises, MSMEs, and financial institutions.

CredAble stressed that working capital financing remains a challenge for businesses, especially for MSMEs, which are struggling with a funding crunch amid the Covid-19 pandemic.

Founded in 2017¸ CredAble works with financial institution partners, including multinational companies, private banks, and non-banking financial companies. It has disbursed working capital at a monthly run rate of nearly US$450 million to US$500 million. In October 2021, it raised US$30 million as part of a series B fundraise.

Pickrr launches same day delivery

The SaaS-based logistics platform said its same-day deliveries will initially be available in metro cities. It is also working toward rolling out the same in Tier 2 and Tier 3 cities in the next phases.

Pickrr said it currently delivers 3 million shipments every month. Nearly 90% of orders are delivered within 24 hours to 48 hours of order placement, the firm said.

Founded in 2015, Pickrr provides logistics and warehousing solutions to SMEs such as retailers, marketplace sellers, and direct-to-consumer brands. It raised US$12 million in a series B round conducted in August last year.

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