Invoice discounting: Working capital solution provider CredAble on Thursday announced partnering with alternative investment platform GRIP Invest, the digital investment company, together announce the launch of InvoiceX Bluechip 200+ — a diversified version of invoice discounting securitization debt instrument. Hosted on the GRIP Invest website, “the securitisation transaction is backed by a pool of over 200 invoices raised on highly reputed companies as anchors set to revolutionize the landscape of short-term supply chain financing and opens new asset classes for retail investors,” said a statement from CredAble.
Under an invoice discounting securitization debt instrument, unpaid invoices post discounting are bundled together to create an investment opportunity for investors to earn returns by investing in them.
Manu Prakash, MD and Head – Debt and Capital Markets, India SaaS & FI Coverage at CredAble said, “This partnership with GRIP Invest marks a compelling milestone in our journey to unlock working capital for enterprise clients benefiting suppliers, sub-vendors, distributors, dealers, and retailers. Also bringing together a diverse range of investors to participate in a highly rated, short-tenure investment opportunity.”
The company said its innovative technology coupled with balance sheet support from large and strategic NBFC lenders enhances liquidity available for supply chain financing. This strengthens CredAble’s ability to provide liquidity solutions to corporate clientele and their ecosystem.
Established in March 2017, CredAble said it enables more than $6 billion annually in working capital for India Inc. which includes large, mid, and emerging corporates, MSMEs, and financial institutions. It hosts over 100 corporate customers, over 2.5 lakh small business borrowers, and over 35 large financial institutions and banks.
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“The strategic alliance with CredAble represents a significant milestone in our pursuit of encouraging cutting-edge investment solutions. We are delighted to be at the forefront of this revolutionary development in the financial sector and believe that “InvoiceX Bluechip 200+” will provide a win-win situation for all types of investors and businesses in the financial market at large,” said Nikhil Aggarwal, CEO & Founder at GRIP Capital.