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CredAble launches credit, cash flow management app for MSMEs
December 10, 2021
CredAble has presented UpScale, a platform that enables growth and financial inclusion for MSMEs in India. Last month CredAble disbursed ₹3,500 crore to in excess of 100,000 independent ventures and with UpScale, CredAble will enter further into the ecosystem with tailor-made solutions for entrepreneurs.
SMEs are to a great extent kept in wording from credit and development yet contribute almost 30% of the GDP. Explaining the need to defeat these difficulties for the backbone of the country, in a statement, Nirav Choksi, Co-organizer and CEO, CredAble said, “Because of broken financial management, just 16% of MSMEs approach formal credit, creating a gap of $350 billion. Consequently, it is significant that MSMEs deal with their funds better and scale faster. With UpScale, our point is to make comprehensive growth for small businesses by giving them cash management, payment, credit and growth devices that will enable entrepreneurs to productively grow and manage with their businesses.
CredAble as of late brought $30 million up in its Series B round and is utilizing the assets to improve the organization’s range just as solutions for small businesses through UpScale. The platform matches up in with a business’ existing accounting software and bank accounts and provides real time business data that helps settle on informed decisions to oversee financial operations like collection and payments and avail instant, collateral free access to working capital financing alongside other growth tools.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/