AbleCredit Raises $1.25 Million in Seed Round

AbleCredit Raises $1.25 Million in Seed Round

AbleCredit, a Bengaluru, India-based AI credit underwriting company, has raised $1.25 million (INR 10 crore) in seed funding.

The round was led by Merak Ventures, with participation from Venture Catalysts and Helios Holdings.

Merak is a sector-agnostic, early-stage venture capital firm, investing in B2B and emerging technologies companies that are solving real problems and creating large-scale impact. It was founded in 2022 and is based in New Delhi, India.

The company will use the funds to scale AI operations and expand the business.

Founded by Utkarsh Apoorva, Harshad Saykhedkar, Ashwini Prabhu, and Anubhab Bandyopadhyay, AbleCredit uses AI to develop generative models with voice, vision, and language capabilities, functioning as an AI assistant for the credit team to generate comprehensive credit reports in line with policies. AbleCredit is on a mission to solve the Credit Gap of emerging economies.

Funding Details

Company: AbleCredit

Raised: $1.25M

Round: Seed Round

Funding Month: May 2024

Lead Investors: Merak Ventures

Additional Investors:

Company Website: https://ablecredit.com/

Software Category: AI Credit Underwriting