CredAble Achieves a Milestone Aggregate Throughput of USD 8 Billion Across its Working Capital Finance Platforms
~ CredAble's annual aggregate throughput has grown by 128% in the last financial year
~ Aims to grow 2x by the end of FY25
~ Accelerated the average invoice period by 73 days and managed over 2.5 million invoices across its platforms
CredAble, India’s largest working capital tech platform, announced a record-breaking milestone aggregate throughput worth USD 8 billion for the financial year 2023–24. The company maintains an industry-leading average invoice period accelerated by 73 days, with over 2.5 million invoices processed on its platforms.
CredAble's licensed software serves over 125 large corporates, offering an end-to-end supply chain financing platform with multi-bank integrations. They also have long-standing relationships with key financial institutions globally. CredAble has implemented fully digital supply chain financing solutions for leading private banks in India. Further, its end-to-end digital underwriting system has been instrumental in streamlining the MSME lending process, significantly improving the unsecured business loans program for India's leading financial institutions.
Recently, the company secured partnerships with major banks across the MENA and APAC regions. By adopting CredAble’s advanced product stacks, the banks can unlock benefits including streamlined digitisation of onboarding, multi-faceted underwriting, and LMS processes.
Commenting on this milestone, Mr. Nirav Choksi, Co-founder and CEO of CredAble,said, “Presently, CredAble stands among the world's most trusted entities in the working capital financing space, delivering technology-enabled solutions. We've also partnered with global banks to implement end-to-end LOS and LMS platforms and to digitise their operations with our full-stack supply chain financing suite.”
Mr. Ram Kewalramani, Co-founder and MD at CredAble, said, “This milestone strengthens our commitment to pushing boundaries and shaping the future of working capital financing. Backed by our expanding team of industry specialists and global delivery frameworks, we aim to double our growth by the end of FY25.”
The company's operational framework is structured around distinct business verticals, each catering to specific needs, including licensed software tailored to support enterprises, suppliers, dealers, banks, and financial institutions. CredAble is set to release its low-code/no-code platforms, empowering global financial institutions with pre-built financial modules and integrations, ensuring unmatched deployment time for new banking products. Beyond financing, the company accelerates automation, leveraging existing integrations with leading ERP providers.
