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CredAble raises Rs 100 cr from Alpha Capital

Press Trust of India  |  New Delhi 

today said it has raised Rs 100 crore in series A funding from Capital.

The funds, which are a mix of equity and debt, will be primarily used to expand the company's loan book and to accelerate growth plans, hiring and building a robust technology backbone, told

He added that the company has enabled over Rs 108 crore in supply chain financing across 41,000 transactions so far that has helped over 9,000 vendors streamline their monthly working capital requirements.

While Choksi declined to comment on the valuation of the company, he said the Rs 100 crore financing included Rs 25 crore in equity and the rest is debt funding.

The company offers (RX) platform and 'just-in-time' working

It also collaborates with large corporates to provide that enable their vendors gain instant access to working capital.

The team is backed by entrepreneurs like Mohandas Pai (ex-CFO), Sat Pal Khattar (Khattar Wong, Singapore), (Vini Cosmetics), and Ranjan Pai (Manipal Group).

"We will look to continue to expand within our current focus area (like logistics), while developing value propositions across additional like and product suppliers. We also want to develop additional products to further enhance the supply chain financing space," Choksi said.

He added the company is looking at an outstanding loan book of Rs 500 crore in the next 12 months and disbursing about Rs 1,500 crore in financing.

Besides, has also applied for an NBFC licence, which it expects to receive in a month.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 11 2018. 16:45 IST