With this infusion, CredAble aims to expand its loan book to Rs 500 crore by FY 2019.

Supply chain finance startup CredAble raises Rs 100 cr from Alpha Capital
Atom Fund Raising Tuesday, June 12, 2018 - 15:07

Mumbai-based supply chain finance startup CredAble has raised Rs 100 crore in a Series A funding round from Alpha Capital. The startup will be primarily deploying these funds to expand the company’s loan book and to accelerate its growth plans, by looking at new hiring and building a robust technology backbone.

CredAble collaborates with leading blue-chip corporates to provide innovative digital vendor financing solutions that enable their vendors gain instant access to working capital and drives significant EBIDTA margin enhancements to the corporate in the process. The company’s RX platform gives vendors access to hassle-free early payment for their receivables in exchange for a trade discount, and enables banks and other financial institutions to bid for payables and lend to the vendors. Thereby, enabling best price discovery that lowers cost of funds significantly.

“We are very excited to have been funded by Alpha Capital, who specialize in investing in passionate and established entrepreneur led businesses. CredAble will look to continue to expand within its current focus area, while developing value propositions across additional eco systems such as manufacturing, etc. The Company also intends to develop additional products to further enhance the supply chain financing space. CredAble will also look at international markets in the long term,” Nirav Choksi, Co-Founder & CEO CredAble said in a statement.

CredAble has so far enabled over Rs 108 crore in supply chain financing across 41,000 transactions, which it claims to have helped over 9,000 vendors streamline their monthly working capital requirements. With its proprietary Receivables Xchange (RX) platform and ‘just-in-time’ working capital financing solutions, CredAble has a corporate mission to triple the available working capital in India over the next 5 years.

Commenting on the investment into Credable, Vishal Ootam, founder of Alpha Capital, said, “We are very excited about our partnership with Credable. We clearly believe that the Supply Chain Financing platform is poised for exponential growth. Nirav, Ram and their team bring a very unique combination of operating expertise and structured finance experience to the table that will enable them to build an extremely valuable business"

Through its continued endeavours of providing better supply chain financing solutions, CredAble hopes to have many more corporates improve its liquidity position and strengthen its balance sheets.

Also read: Unicorn India partners with London-based Ascension Ventures to launch Indo-UK EIS fund

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