CredAble launches UpScale to enable financial inclusion among SMEs

CredAble, an AI powered tech platform enabling working capital financing across enterprise environment, announced the launch of UpScale, a platform that enables growth and financial inclusion for SMEs and MSMEs in the country. Last month alone CredAble disbursed ₹3,500cr to 10,000 small businesses. With UpScale, CredAble will penetrate deeper into the environment with tailor made solutions for small business owners.

SMEs are largely starved in terms of credit and growth yet contribute nearly 30% of the GDP. Explaining the need to overcome these problems for the backbone of the country.

Nirav Choksi, co-founder and CEO, CredAble said, “Due to broken financial management, only 16% of MSMEs have access to credit, creating a gap of $350bn. Thus, it is important that MSMEs manage their finances better and work faster”.

“With UpScale our focus is to create inclusive growth for small businesses by providing them with cash management, payment, credit and growth tools that will enable small businessmen to grow and manage their businesses”.

CredAble recently raised $30mn in its Series B round and is using the raised funds to enhance CredAble’s reach as well as the solutions for small businesses.