VC Fund Investments
Fintech startup CredAble raises $10-M led by Equentia
Mumbai-based fintech startup CredAble has raised USD 10 million in a new round from Singapore-based Equentia Natural Resources. CredAble will issue 11,963 preference shares at INR 69,384 each to raise INR 83 crore (USD 10 million). The company will use these proceeds to meet working capital requirements and expansion.Founded in 2017, CredAble provides working capital to large, mid, and emerging corporates, as well as micro, small, and medium enterprises (MSMEs), and financial institutions. CredAble has raised over USD 55 million across rounds including its last round of USD 9 million in August 2022, led by Axis Bank and with the participation of Oaks Assets Management.CredAble’s revenue from operations grew 2.78X to INR 13.94 crore in FY23 from INR 4.92 crore in FY22. The firm’s losses surged 3.37X to INR 22.40 crore in FY23 from INR 6.53 crore in FY22.
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