CreditEnable gets Aditya Ghosh on board to ramp up funding for SMEs

CreditEnable, an artificial intelligence driven SME credit business, said on Thursday it is ramping up activities in India to help improve access to finance for small and medium enterprises (SMEs) during COVID19, and is adding Aditya Ghosh to its global investor group and the advisory board.

Ghosh is a former President and board member of IndiGo, and a current board member of Oyo.

Britain-based CreditEnable's mission is to help SMEs grow businesses and create jobs. Operating in India since 2017, it has been building a fully digital and curated marketplace for SME finance where both lenders and borrowers benefit from reduced transaction costs, lower risk, better outcomes and faster deployment of capital.

CreditEnable's India marketplace currently caters to more than 20 leading lenders with Rs 53,700 crore of loan books. It has an exclusive strategic partnership with the Confederation of All India Traders (CAIT), an alliance that creates exclusive access to affordable finance for around seven crore SMEs.

"Ensuring that Indian SMEs get access to affordable finance rapidly and that lenders can deploy capital quickly is more crucial now than ever," said Nadia Sood, CEO and Founder of CreditEnable. "We are delighted that Ghosh has joined us to help ramp up our activities."

Ghosh joins the CreditEnable Global Advisory Board comprising of industry titans such as Ishaat Hussain, former Tata Sons CFO, Abhijit Sen, former CFO Citi India and former Chairman of Citicorp Services India, along with current and former senior global executives from S&P, Barclays, Citibank, HSBC and JP Morgan, Sun Gard, and other leading global financial services firms.

"I am excited to be part of the company's growth and continue to drive a positive impact among small businesses in India and eventually other international markets," said Ghosh in a statement.

( With inputs from ANI )