Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
E-invoicing, SCF & E-procurement

Alpha Capital invests in supply chain finance startup CredAble

Wednesday 13 June 2018 | 02:03 PM CET

Mumbai-based supply chain financing startup CredAble has raised USD 14.8 million in a Series A round of funding from Alpha Capital.

The startup has announced in a press statement that it will primarily deploy the funds to expand its loan book. Currently, the company enables lending through its partner networks of financial institutions. It is in the final stages of gaining a non-banking finance licence, post which it will start lending from its own book.

CredAble helps vendors receive early payments against their approved invoices, without waiting for the typical credit cycles of 45-90 days. It currently focuses on small and medium enterprises in the logistics and packaging materials space.

It also offers a corporate solution named Receivables Xchange, a digital platform for large companies that allows their vendors to gain instant access to working capital. The platform has a network of financial institutions who bid for the invoices from the vendors.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement