CreditEnable secures investment from Floreat
Floreat has completed an investment in fintech firm CreditEnable via its Principal Investment Fund I Limited.
≈ £176M at $1 = £0.7958 on 18 Jun 2019
CreditEnable operates an artificial intelligence driven credit marketplace designed to help small and medium enterprises secure appropriate business loans while improving approval rates for lenders.
CreditEnable has secured investment from Floreat through its Principal Investment Fund I Limited. The funding supports the fintech firm as it expands access to affordable debt for small and medium enterprises, initially focusing on the Indian market.
Led by Jeff Sinclair, Floreat backed the company to capitalise on the significant growth potential within the SME credit sector. CreditEnable provides profiling tools for borrowers and works with major lender networks and trade bodies, including a recent partnership with the Confederation of All India Traders.
From the founder
"We are delighted that Floreat has invested into CreditEnable. There is a significant opportunity to bring efficiencies through technology into the SME credit market globally. We are pleased that Floreat has recognised the work we are doing to capitalise on this opportunity. We look forward to working closely with Jeff and his team which have an impressive track record of working closely with the expansion of new firms such as ours."
Nadia Sood
CEO & Co-Founder at CreditEnable
Investor perspective
"Millions of creditworthy SME firms in developing countries are underserved by the formal financial sector. This represents a USD4.5 trillion global SME credit gap in developing economies (with India representing USD221 billion)"
Jeff Sinclair
Managing Director, Floreat
Investors
Categories
About the company
CreditEnable
CreditEnable runs an AI driven SME credit marketplace that simplifies business loan procurement.