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Bengaluru, 27th March 2025 : CredAble, India’s largest working capital technology platform, announced that it has successfully crossed INR 250 crore in trade receivables securitization (TRS) via Pass-Through Certificates (PTCs) from its NBFC arm. This marks a progressive milestone in CredAble’s journey to institutionalize trade receivables as a trustworthy, investable asset class and deliver scalable liquidity solutions to corporates and financial institutions operating in increasingly dynamic and regulated capital market transactions.
Positioned uniquely at the convergence of structured finance, receivables intelligence, and deal execution, CredAble has developed deep capabilities in short-tenor receivable securitization—combining regulatory precision, investor-grade documentation, and corporate-grade underwriting into a single advisory offering. This positions the firm not only as a deal facilitator but also as a structuring partner of record for a new generation of asset-backed funding strategies.
“Trade receivables are being reimagined—from being static balance sheet items to dynamic, monetizable assets. We are enabling that transformation,” said Manu Prakash, Global Head – Wholesale Lending, DCM & FI Coverage at CredAble. “By blending risk-optimized structures with robust institutional linkages, we’re unlocking new liquidity pathways for enterprises while building high-yield, short-duration fixed income products for institutional investors.”
CredAble has now established itself as a one stop shop for advising both the originators (corporates) and investors on TRS.
Transforming Market Practice: Deal Execution That Sets Benchmarks
Among CredAble’s landmark achievements is the execution of India’s first PTC on pool of trade receivables under the Standard Assets category, in partnership with Northern Arc Capital(investor)—a transaction widely seen as a precedent for deal-making under the revised RBI securitization framework, supporting the government’s push for TRS and Securitisation. The subsequent deals showcased CredAble’s ability to:
- Aggregate high-quality, investment-grade receivables across multiple vendors and counterparties
- Isolate and ring-fence risk through trust structures in line with SEBI and RBI norms
- Enable capital markets access for short-duration, supply chain-linked credit exposures
- Bringing in new investors for take offs
This was followed by support from strategic investors like Aditya Birla Finance Ltd., Godrej Capital, Kotak Mahindra Investments Ltd., and Grip Invest—with each transaction representing a unique structure tailored to institutional risk appetite and corporate funding needs.
Building the Architecture of Receivables as an Asset Class
The Indian securitization market witnessed a ~30% YoY growth in FY24, driven by appetite for non-traditional, yield-accretive instruments. Amid this evolution, trade receivables are emerging as a front-running alternative—attractive for mutual funds, AIFs, corporate treasuries, insurers, and soon, pension and sovereign funds.
CredAble is at the forefront of this shift, with a forward roadmap that includes:
- Expanded investor syndication across AIFs, insurance companies, DFIs, and HNIs
- A formal Receivables-as-an-Asset-Class Playbook for CFOs, treasury heads, and credit committees
- Advanced pool-level analytics dashboards for investors, featuring real-time performance visibility, delinquency risk triggers, and waterfall tracking
- Structuring of ESG-linked receivables pools, tied to responsible supply chain metrics and sustainability-linked disbursal triggers
“The real value lies not just in the transaction, but in the architecture,” added Mr. Prakash. “We’re building a programmable framework where liquidity can flow through receivables seamlessly, compliantly, and at scale—backed by institutional trust and executional precision.”
A Vision Aligned with Regulatory Evolution
CredAble’s solutions align with recent SEBI reforms on securitized debt instruments and RBI’s evolving stance on asset-backed exposures—particularly around standard asset classification, true-sale criteria, and risk isolation. By bridging these frameworks with market practice, CredAble is creating an ecosystem where trade receivables are both bankable and investable—blending corporate-grade origination with capital-market-grade compliance.
