Mumbai: CreditEnable Ltd, an artificial intelligence-based SME credit marketplace, has raised $2 million (around Rs 14.6 crore) in a pre-Series A funding round.
The exercise in UK and India-based CreditEnable has been led by incubator and accelerator Venture Catalysts and its UK arm called JPIN Venture Catalysts Ltd.
It will use the capital raised in this pre-Series A round to enhance its technological infrastructure and expand its user base.
CreditEnable, which has been operating in India since 2017, was set up by CEO Nadia Sood and CFO Varun Sahni. According to her LinkedIn page, Sood is an alumnus of Columbia SIPA and has worked with firms including Nestlé and Impact Investment Partners.
Sahni is a graduate of The London School of Economics and has worked at firms including Acumen Impact Investment Partners.
CreditEnable says it helps SMEs by simplifying the process of securing a business loan, as well as helping them manage their credit profile.