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Credable, A Digital Banking Infra Startup That Wants To Build Unit For Emerging Markets, Gets Funding

PRIVATEMar 20, 2023•about 3 years ago

Mumbai

Investors

Ventures Platform’s General Partner Dotun OlowoporokuAdaverse/Emurgo AfricaAaic InvestmentAcasia VenturesMagic FundLaunch AfricaVentures PlatformThe Continent Venture Partners

Description

Embedded finance solutions in less developed markers are becoming more prominent as platforms look to provide various financial solutions to the unbanked and underserved. Banking infrastructure providers are mainly responsible for the proliferation of such solutions. They allow businesses such as mobile operators, e-commerce platforms, and logistics companies to embed and enable banking products for their customers.

Company Information

Company

CredAble

Location

Mumbai, Maharashtra, India

About

The Mumbai-based company will use the funds to launch its new product and to strengthen its tech platform, said cofounder and chief executive Nirav Choksi. CredAble provides comprehensive working capital financing solutions to corporates in the areas of payable and receivables financing, debt capital markets and financing for small and medium enterprises. CredAble is solving a huge problem by bringing in the entire unorganized vendor bases and suppliers and retailers into mainstream banking and finance, said Vishal Ootam, cofounder and CEO of Oaks Asset Management. INFounded in 2017 by Choksi and Ram Kewalramani, CredAble is an AI-powered technology platform enabling working capital financing across enterprise ecosystems using technology, digital Know Your Customer (KYC) and onboarding, deep Enterprise Resource Planning (ERP) and bank integrations.

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