CredAble raises Rs 100 crore from Alpha Capital

PUNE: Supply chain financing firm CredAble has raised Rs 100 crore in Series A funding from private equity firm Alpha Capital. Set up in 2017, CredAble provides supply chain financing to vendors of large corporates.

Nirav Choksi, founder, CredAble told ET that the funds raised would be deployed towards scaling up operations and technology, as well as onward lending. It aims to expand its loan book to Rs 500 crore by FY19.

“We have two lines of financing- just in time working capital financing where the funds are lent against purchase orders received from the corporate, and post invoice financing, which is a closed loop ecosystem of vendors,” said Choksi.


The company has applied for a non-banking financial corporation (NBFC) license and will focus on building its own order book and doing more ‘Just in Time’ lending. Choksi said that the firm had lent Rs 108 crore since March 17, spread over 41,000 transactions to 9000 vendors.

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.

”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.”

Currently, most of the company’s business comes from the logistics sector. Vishal Ootam, founder, 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."