Indian fintech platform CredAble secures $9 million in funding

CredAble, a fintech startup based in India has secured $9 million in its new funding round led by Axis Bank, a private sector lender.

• The fund will be used to accelerate the growth of the fintech startup, it claims.
• Founded in 2017, CredAble provides working capital to large, mid, emerging corporates, micro, small and medium enterprises (MSMEs), and financial institutions.
• Axis Bank will acquire 5% of the fintech company with this investment scheduled to complete by 30 September.
• Oaks Asset Management, an existing investor participated in the round.