DBS Bank India and CredAble join hands to facilitate trade financing for SME ecosystem

DBS Bank India

CredAble has partnered with DBS Bank India to pour in liquidity and enhance current financing options for working capital needs. The partnership will help cater to the capital requirements for the day-to-day operations of SMEs, MSMEs, and enterprises in the corporate supply chain.

This alliance will structure innovative solutions for the ecosystem and allow beneficiaries to avail a gamut of programmes. With this partnership, CredAble aims to settle the working capital crisis and steer access to cash in the supply chains across sectors.

Nirav Choksi, Co-founder & CEO, CredAble, said, “We are elated to partner with DBS Bank and create customisable solutions in order to resolve the working capital gap in India. DBS Bank has a huge presence in trade and supply chain finance across countries, predominantly via working capital services for exports and SMEs. We believe that the entire ecosystem will witness a surge in liquidity with this association, and CredAble being at the forefront in structuring innovative technology-led solutions.”

The collaboration is an industry movement supporting the modern supply chain. Divyesh Dalal, Head – Global Transaction Services, DBS Bank India, said, “At DBS, we have always believed in enabling tech platforms and partnering with agile, like-minded players in the segment to deliver innovative financing solutions to customers. We expect this partnership to equip the supply chains with flexible and tailor-made solutions by leveraging CredAble’s technology prowess, making the entire process nimble. Further, DBS’ quick turnaround on financing requests will enable supply chain requirements across a wide spectrum of ecosystems. We will continue to work and innovate with CredAble to meet the evolving financing needs of various industries.”

Choksi decoded the partnership and added, “We integrate with an intention to expand the possibilities of access to credit as per the needs of the enterprise supply chain. In addition to the current offerings, we also look forward to a joint securitisation and be the first movers in a range of facets, including purchase order financing, SME financing, multi-tier financing, etc. Given the current mandate, which was honoured in less than a quarter, we see DBS Bank as our partner for a longer run.”

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