CredAble Introduces New GST Super Search Tool

Observing an increase in demand for working capital and digital transformation in the MSME ecosystem in India, UpScale by CredAble, a super business app, has gained over 200,000 businesses since its launch in November 2021. business shows rapid traction with its streamlined, all-digital loan application process, trade facilitation, easy-to-use growth tools, and powerful business intelligence and analytics. Scaled by Crediblewith its unique solution combining trade, credit and payments to facilitate business growth, enables its customers and their businesses to go digital.

Responding to most of the business, credit and payment challenges faced by MSMEs and SMEs in the new digital world, Mr. Nirav Choksi, Co-Founder and CEO of CredAble, said, “In India, only 16% of MSMEs have access to formal credit, creating a gap of USD 350 billion. MSMEs in India are bound to improve their finances and scale up rapidly. At CredAble, we do our best to bridge the gap between the challenges faced by MSMEs and their full potential. We happen to be at the forefront of building the future of India Inc. We aim for inclusive growth for diverse small businesses by providing easy and digital access to loans, growth tools, debt management cash flow, payments and business infrastructure”.

In this pursuit, CredAble has launched Scaling, a super commercial application in November last year. Unlike other business apps that focus on payments or cash flow management, UpScale focuses on combining commerce, credit, and payments to provide small businesses with a single solution for growth.

In addition, UpScale’s proprietary technology analyzed credit reports submitted by 700 lenders, transaction amount from bank statements of INR 5,000 Cr and over 1 million invoices totaling Cr 10,000 INR.+ to find the right match between borrower and lender. . An easy-to-use interface, a completely online application process without any paperwork, and a partnership with over 10 leading banks and NBFCs has enabled UpScale to provide thousands of businesses with digital access to formal credit.

In April, UpScale also launched a full suite of business growth tools for faster supplier verification, including GST Number Verification, PAN Number Verification, GST to PAN Number Verification and Bank account.

In recent developments, UpScale has added a super unique GST Audit Tool which further enhances the expansion and financial inclusion of Indian MSMEs and SMEs. UpScale’s GST Super Search Tool is a comprehensive tool that quickly validates company or customer GSTIN numbers and provides users with unique features such as GSTIN confirmation, GST linked PAN number verification and status of filing of GST declarations. It also helps customers verify bank account numbers. Thus, allowing them to be aware of the current and exact context of the establishment with which they wish to do business.

Commenting on the achievement of the milestone and UpScale’s unique offerings, Mr. Nitin Sharma, CPTO & MD (UpScale) at CredAble said, “We are extremely pleased that in such a short time we have been able to serve over 200,000 businesses by combining commerce, credit and payments for growth at scale. At the same time, users provided us with the most relevant feedback in terms of their challenges and what the potential solution might be. This led us to offer a unique feature like the GST Super search tool that authenticates the companies they partner with, in just seconds. With GST verification, PAN number verification and bank account verification with one query, it saves businesses hundreds of hours of operational processes. The most unique thing about UpScale is that there is no other app in India that provides these services; these details are also not readily available on other portals.

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