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AbleCredit is a Bengaluru, India-based financial technology company that develops artificial intelligence-powered credit underwriting and automation software for commercial banks and non-banking financial companies. The business-to-business platform utilizes proprietary machine learning models, including voice, vision, and natural language capabilities trained on over 100 million financial data points, to evaluate and monitor loan applications for micro, small, and medium enterprises. Operating with approximately 30 employees, the enterprise generates its revenue by charging lending institutions licensing and usage fees for direct access to its application programming interfaces and credit intelligence tools. In May 2024, the startup secured $1.25 million in seed funding from a syndicate of venture capital firms that included lead investor Merak Ventures, alongside Venture Catalysts and Inflection Point Ventures. AbleCredit was founded in 2023 by Utkarsh Apoorva, Harshad Saykhedkar, Ashwini Prabhu, and Anubhab Bandyopadhyay.
AbleCredit has raised $1.0M across 1 funding round.
AbleCredit has raised $1.0M in total across 1 funding round.
AbleCredit has raised $1.0M in total across 1 funding round.
AbleCredit's investors include Merak Ventures, Season Two Ventures, Suraj Nalin, Venture Catalysts.
AbleCredit is an AI-driven credit underwriting platform founded in 2023, designed to automate credit applications, detect fraud, analyze cash flow, determine loan terms, and perform risk assessments for lenders, primarily targeting India's massive USD 530B credit gap for MSMEs.[1][2][3] It serves BFSI enterprises by providing GenAI workflows for onboarding, claims, credit, and collections, generating detailed credit reports in under 3.5 minutes while ensuring compliance, with tools that leverage voice, vision, and language AI to assess overlooked sectors using alternative data.[1][2][4] The platform reduces processing times by up to 20X, cuts operational costs, and supports vernacular languages for rural/semi-urban markets via a mobile-first app, serving over 100 clients and aiming to process one million loan applications in the next year.[2][3][4][6]
Recently securing $1.25M in seed funding led by Merak Ventures, AbleCredit demonstrates strong growth momentum amid surging AI adoption in India's credit sector, with client testimonials highlighting 33% reduced EMI bounce rates and 30% quicker branch profitability.[1][3][4]
AbleCredit was founded in 2023 by Utkarsh Apoorv (CEO, IIT Delhi, 15+ years in rural-tech, ex-Reshamandi, GuitarStreet, Edulabs), Harshad Saykhedkar (Chief AI Officer, IIT Bombay, 15 years in ML/AI, led AI at Slack and Astro), Ashwini Prabhu (CTO/CPO, IIM Lucknow exec, 10 years in rural-fintech, ex-Reshamandi), and Anubhab Bandyopadhyay (early co-founder).[1][2][3] The team draws from experience building products for banks like HDFC, Kotak, ICICI, Ujjivan, and small cottage industries, addressing the Rs 25 trillion credit gap caused by underwriter shortages and high costs.[3]
The idea emerged from founders' prior ventures in rural-tech and fintech, evolving into a mission to democratize MSME credit via AI automation, with early traction from proprietary models and a patent-pending document intelligence system, culminating in seed funding to scale operations.[1][2][3]
AbleCredit rides the AI adoption wave in India's credit underwriting, where new players are making credit accessible for MSMEs amid a USD 530B gap, accelerated by GenAI for 20X efficiency gains.[1][2] Timing is ideal with rising demand for automated assessments in secured/unsecured lending, especially rural sectors ignored by traditional methods, fueled by market forces like underwriter shortages and fintech funding (e.g., KreditBee's $9.4M raise).[1][3]
It influences the ecosystem by pioneering vernacular AI for fields, enabling lenders to scale nationwide with consistent risk views, and pushing competitors toward AI integration, bridging formal credit to millions of MSMEs.[2][4]
AbleCredit is poised to hit its 1M loan application goal using seed funding for expansion, targeting sub-minute loans via advancing GenAI while deepening rural penetration.[3] Trends like AI in BFSI workflows and India's MSME credit surge will propel growth, potentially evolving it into a global player as it eyes overlooked emerging markets.[1][2][4] Its founder-led innovation positions it to close credit gaps at scale, transforming lending from bottleneck to edge—just as it automates credit apps today.[1][4]
AbleCredit has raised $1.0M across 1 funding round. Most recently, it raised $1.0M Seed in May 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2024 | $1.0M Seed | Merak Ventures | Season Two Ventures, Suraj Nalin, Venture Catalysts |
