London-headquartered听贵颈苍罢别肠丑听CreditEnable听has raised 拢2 million investment.听
The SME credit marketplace听uses data analytics and AI to support SMEs in procuring business loans, helping lenders improve approval rates to above 70%.听听
The听pre-Series A听investment听was听led with 拢700,000 from听JPIN Venture Catalysts,听the听UK arm for Venture Catalysts听which aims to听build听bi-directional UK-India investment and听a听growth corridor for听start–ups.听听
The capital听will be used to continue the development of听颁谤别诲颈迟贰苍补产濒别鈥檚听technology platform and expand the firm鈥檚 userbase.听
Founded by seasoned private equity and debt investor Nadia Sood and veteran early–stage investor Varun Sahni,听CreditEnable听has been operating in India since 2017.听
CreditEnable听has more than 20 lender clients, including major financial institutions in India, IDFC First Bank, ICICI, Bajaj and international financial institutions, Deutsche Bank and DBS.听
CreditEnable听effectively bridges the gap between the SME loan procurement process 鈥� a notorious and lengthy one 鈥� and optimising solutions to help lenders grow efficiently.听听
The company previously raised a $5m听seed听round from investors such as听Cris听Conde, former CEO Sun Gard, Alter Global,听Astia听and Floreat.听
鈥淲e are delighted that JPIN VCATS has decided to back our growth,鈥� said CEO Sood.听鈥�The COVID pandemic has accelerated the adoption of digitization within financial services.听听
鈥�Getting affordable finance into the SME segment at scale is going to be critical to our global economic recovery and we are thrilled to have Venture Catalysts support to help us to scale our reach in India.鈥�听
Gaurav Singh,听founder听and听managing听partner听at听JPIN VCATS,听said:听鈥淭he UK-India relationship is at an all-time high and this is a perfect testament to how amazing businesses can grow cross-border while making a meaningful impact on GDP by enabling SMEs with quick and affordable finance.听听
鈥�CreditEnable听is a very high-quality UK start–up and is on a fast trajectory to be a market leader globally.鈥�听