CredAble to offer working capital solutions

CredAble will use its NBFC status to provide short-term working capital solutions to suppliers of large corporations which tend to experience delays in receivables to meet the payables.

Fintech company CredAble, which is into B2B financing, is leveraging its trade finance expertise and technology development capabilities to reimagine supply chain finance in India. The firm is now connecting large corporations and their suppliers and distributors to third party capital providers through its supply chain technology platform and arranges funding programs linked to transactions within the corporate supply chain. The company has just received license from the RBI as a NBFC. The firm’s CEO and co-founder Nirav Choksi said CredAble will use its NBFC status to provide short-term working capital solutions to suppliers in select ecosystems which tend to experience mismatched receivables and payables cycles. Oftentimes, these suppliers have limited access to bank financing or simply fall short of the credibility to be deemed ‘bankable’ and therefore have limited or no access to funds and CredAble will try to fill this void by providing liquidity options during the pre-invoice and post-invoice phases, he added. CredAble is harnessing the power of blockchain and big data to improve its value proposition for its platform participants.

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