CredAble Raises $9 Million from Axis Bank and OAKS Asset Management
Funds will be utilized to accelerate its growth plans
CredAble on Thursday announced to have raised $9 million via an equity infusion from Axis Bank and its existing investor OAKS Asset Management. Funds will be utilized to accelerate its growth plans.
"This direct investment by AxisBank and the continued support from existing investors validates CredAble's journey thus far to help India solve its working capital woes. The incoming investors and CredAble are aligned in their vision of what CredAble has stood for and what it can accomplish in the foreseeable future," said Nirav Choksi, co-founder and CEO, CredAble
"This investment is an important long-term step in helping CredAble fulfill its mission of building India's largest working capital financing platform," said Vishal Ootam, CEO, OAKS Asset Management.
Over the years, CredAble has built working capital platform, by creating a robust fintech infrastructure, catering to all participants of corporate India including large enterprises, mid and emerging corporates, MSMEs, and financial institutions. This investment reiterates CredAble's commitment towards empowering small businesses and becoming the preferred working capital solution provider to its growing list of enterprise customers and financial institution alliances, many of which are long-standing relationships. The transaction endorses the value of Fintech and Bank partnerships and their collaborative efforts to create world-class customer experiences that solve real credit and business needs for India Inc.