Total amount raised
$74.4 Million
Latest funding date
6/1/2024
Location
CredAble has successfully raised funding over 7 rounds, with notable investors including SIDBI and Equentia Natural Resources. The platform offers a variety of capital financing solutions to financial institutions, MSMEs, and other growing businesses.
Keep reading to explore the intricacies of CredAble's fundraising journey and the investors backing this innovative platform.
What Is CredAble?
CredAble is a fintech company based in Mumbai, Maharashtra, India, specializing in providing capital financing to financial institutions, MSMEs, and other growing businesses. The company operates in the finance, financial services, fintech, and payments industries.
Founded by Nirav Choksi and Ram Kewalramani, CredAble has grown to employ between 251 and 500 people. The company has disbursed $21 billion through its technology-driven working capital solutions and has received multiple awards for its innovative products and services.
How Much Funding Has CredAble Raised?
- Seed Round
- Amount Raised: $2,500,000
- Date: March 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop initial product offerings.
- Series A
- Amount Raised: $4,500,000
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and scale up operations.
- Series A
- Amount Raised: INR 1,000,000,000
- Date: June 2018
- Lead Investors: Alpha Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology infrastructure and expand market reach.
- Series B
- Amount Raised: INR 2,254,000,000
- Date: October 2021
- Lead Investors: OAKS Asset Management, Plutus Wealth Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth plans and offer credit solutions to SMEs and large businesses.
- Series C
- Amount Raised: $9,000,000
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion efforts.
- Corporate Round
- Amount Raised: $10,000,000
- Date: March 2024
- Lead Investors: Equentia Natural Resources
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational expansion.
- Debt Financing
- Amount Raised: INR 300,000,000
- Date: June 2024
- Lead Investors: SIDBI
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and provide affordable financing solutions to MSMEs and women-led businesses.
Total Amount Raised: $60,000,000
Current Valuation: Not publicly disclosed
Key Investors
- SIDBI (Small Industries Development Bank of India)
- Details: SIDBI is a principal financial institution in India focused on the promotion, financing, and development of the Micro, Small, and Medium Enterprise (MSME) sector. It provides financial assistance and support to small and medium-sized enterprises across the country.
- Investment Focus Areas: MSMEs, women-led businesses, financial assistance.
- Notable Investments: Debt Financing in CredAble, extensive support for MSMEs across India.
- Equentia Natural Resources
- Details: Equentia Natural Resources is a Singapore-based investment firm that focuses on natural resources and related sectors. The firm has a history of investing in high-growth potential startups and companies.
- Investment Focus Areas: Natural resources, fintech, high-growth startups.
- Notable Investments: $10 million investment in CredAble.
- OAKS Asset Management
- Details: OAKS Asset Management is an investment firm that provides growth capital to companies in various sectors. The firm focuses on high-growth companies and aims to support their expansion and development.
- Investment Focus Areas: Growth capital, high-growth companies, various sectors.
- Notable Investments: CredAble, other high-growth companies.
- Plutus Wealth Management
- Details: Plutus Wealth Management is a financial advisory and investment management firm. The firm specializes in providing tailored investment solutions to both individual and institutional clients.
- Investment Focus Areas: Financial advisory, investment management, tailored investment solutions.
- Notable Investments: CredAble, various tailored investment solutions.
- Alpha Capital
- Details: Alpha Capital is an investment firm that focuses on providing growth capital to companies in various sectors. The firm aims to support the expansion and development of high-potential businesses.
- Investment Focus Areas: Growth capital, various sectors, high-potential businesses.
- Notable Investments: CredAble.
What's Next for CredAble?
CredAble stands at the cusp of significant opportunities, driven by the burgeoning MSME sector and a growing focus on women-led businesses. With recent funding from SIDBI, the company is poised to expand its product lines and operational capacity, aiming to support a broader portfolio of businesses. The potential for growth is immense, given the company's existing customer base of over 350,000 small business borrowers and 125 corporate clients.
Future fundraising opportunities appear promising as CredAble continues to scale its operations and develop new market-leading financing solutions. The company's focus on leveraging AI/ML algorithms for risk management and underwriting could attract further investment from financial institutions and venture capitalists. However, challenges such as managing increased operational costs and navigating a competitive fintech landscape remain. Ensuring the effective deployment of raised funds will be crucial for sustaining growth and achieving long-term success.
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