CredAble, a Mumbai-based fintech startup focused on the supply chain finance segment, has raised $4.5 Mn in a follow-on funding round from its existing investors. In the latest funding round, CredAble founders have also put in their own capital, with the total funding raised by the startup reaching close to $20 Mn.
CredAble provides liquidity to enterprises by using its SaaS interface, eKYC, digital documentation, and transaction management. According to the startup, it leverages its trade finance expertise, technology platforms, and access to third-party trade finance capital to arrange large-scale liquidity programmes.
Speaking on the funding, CredAble Co-founder and CEO Nirav Choksi, said, “CredAble has seen an unprecedented scale-up in the disbursements over the last six months. We have enabled over Rs 2,500 crore in vendor and dealer/distributor financing over the COVID-19 period. This interim fund-raise will further boost disbursements given the varied opportunities that we have currently.”