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CredAble Raises Rs 30 Crore from SIDBI to Boost MSMEs and Women-Led Businesses
Update / Judgement Date
12 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
MSME & Udhyam
CredAble, a startup specializing in working capital financing, has secured Rs 30 crore in debt funding from the Small Industries Development Bank of India (SIDBI). This capital infusion aims to bolster CredAble’s operations, particularly in enhancing support for micro, small, and medium enterprises (MSMEs) and women-led businesses across India. \r
The funding will also facilitate the expansion of CredAble’s product lines tailored for MSMEs and the scaling up of its operational capacity. Founded in 2017, CredAble operates a technology platform disbursing over $8 billion annually in working capital for corporates and financial institutions. \r
The company is committed to supporting women-led enterprises, having recently allocated Rs 200 crore for this purpose, benefiting over 50 such businesses nationwide.
