Fintech lending startup CredAble raised $9 million from Axis Bank and OAKS Asset Management. CredAble intends to use the additional funds to accelerate its expansion plans.
CredAble is a startup that provides working capital financing through artificial intelligence. It provides a wide range of lending and financing solutions to SMEs, large corporations, and financial institutions. It also intends to use the funds to expand its banking-as-a-service (BAAS) solutions in international markets and expand its footprint in the domestic market through its platform UpScale. CredAble claims to have over 100 corporate customers, over 300,000 small business borrowers, and over 30 financial institutions, including banks, on its platform. It also claims to have grown by 500 percent year on year.