CredAble, a fintech platform, has dedicated Rs 200 crore to support businesses led by women. This initiative aims to address the unique challenges faced by women in the entrepreneurial landscape, ultimately fostering economic growth and job creation, according to the company statement.
As part of this allocation, CredAble will introduce a tailored cash flow-based lending model, providing a flexible and adaptive financing solution. By leveraging real-time cash flow data, this model empowers women entrepreneurs to secure funding more easily and effectively.
The primary objective is to offer an easily accessible and transaction-based debt line, allowing female entrepreneurs across India to bridge the credit gap and unleash the full potential of their businesses, as per a company statement.
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Nirav Choksi, co-founder and CEO of CredAble, said, “The strategic allocation of this fund not only catalyses innovation and job creation but also enhances credit access, empowering women to carve their own paths and redefine success on their terms.”
Choksi added, “Furthermore, CredAble's NBFC comprises 40 per cent women, actively contributing to the realisation of the vision for funding women-led businesses. While our journey towards dismantling biases may still be ongoing, we are consistently making strides in creating a startup ecosystem free from gender discrimination.”
As of today, women in entrepreneurial roles have emerged as trailblasers, driving innovation and making significant strides across various challenging sectors globally. Out of the 6.33 crore MSMEs in India, 20 per cent are owned by women, according to the MSME Ministry’s data.
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Despite these encouraging statistics, the Global Entrepreneurship Monitor (GEM) highlights that women's participation in entrepreneurship, while soaring to 80 per cent of the rate of men, is still hindered by persistent obstacles such as gender discrimination and limited access to financial resources.
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