Nirav Choksi: Spearheading an Innovative NBFC Platform towards Success

The fact that today it’s an even blend of entrepreneurs who have a business background but are exploring new avenues alongside entrepreneurs who don’t have any business background. This is also one of the biggest reasons why entrepreneurship is flourishing in India at such a rapid pace.

When we explore the roots of this ecosystem, it’s clear that the incubation facility within the business is the biggest driving force for the entrepreneurs to innovate. Other key factors that play a critical role is the change in the mind-set of individuals and the rise of positive aggression in taking a risk.

A Man of All Seasons

This excerpt highlights the inspiring journey of a seasoned entrepreneur Nirav Choksi, the Co-founder and CEO of CredAble. Amassing a vast experience over eighteen years. Nirav is a veteran with a proven history of building large successful businesses in the technology, commodities, and the financial services arena.

He has a degree in BS in Computer Science and Economics from the prestigious University of Michigan, USA. Well-versed in the areas of Business Planning, International Business Management, and Fundraising, Nirav stands tall as a multi-faceted entrepreneur and an inspiration to countless aspiring professionals.

Having the acumen and exposure to incubation and scaling up businesses, Nirav has founded several companies in the Internet and Technology space and has had three successful exits. Prior to CredAble, he Co-founded and led Equentia Natural Resources Pvt. Ltd which is a multi-commodity trading and structured finance company with offices in Singapore, Jakarta, Dubai, and Mumbai. He expresses that being an early-stage investor in tech-enabled and consumer-led ventures and investing in over 25 opportunities has been an exciting journey.

Alongside his dream venture, Nirav is highly passionate about food, cooking, and travelling. Needless to add, founding and scaling businesses and partnering with some of the best teams are what he is passionate about, when it comes to his professional expertise.

The Cornerstones

Nirav belongs to an entrepreneurial family and has grown up seeing his earlier generations building large businesses from ground up with limited initial resources. His grandfather and father have always encouraged him to dream big, achieve bigger and imbibed in him, their values of humility, generosity, and courage during adversities. These values continue to inspire him in his entrepreneurial journey every day.

He proudly says that his grandfather is his real-life hero and his inspiration in every facet of his personal and professional life. Nirav also ardently acknowledges and expresses his gratitude towards his wife who has been a rock-solid support in tolerating the ups and downs and being his pillar of strength, despite having her own professional career.

The biggest motivational factor in Nirav’s life is his venture CredAble as it serves the purpose to empower everyone for their future generations. Coming to work is the fuel that drives Nirav and his team. Making a difference for the customers becomes the most exciting and gratifying experience. Alongside this, having the best team of professionals is another factor that keeps him motivated.

Exclusive Services

CredAble was conceptualised in 2017 and currently has a workforce of over 70 employees. The company’s objective is to partner with corporates to unlock this valuable operating cash flow and bridge the working capital gap for their suppliers and distributors.

With a vision to exponentially increase the availability of working capital in India’s corporate supply chains. A lot of suppliers and distributors are left out as they are deemed “un-bankable” by traditional working capital providers.

This is where CredAble comes into the picture and has emerged as a pioneer and has created a platform for suppliers and distributors, and corporates. It has three basic programs:

Early Payment Program for Suppliers (DDRX): This system assists all vendors and suppliers to get early payment against their invoices in exchange for a discount. Alternatively, enterprise clients can also opt for an extension to the days payable while suppliers are paid early.

The Distributor Receivables Funding Program (DFX): This ‘built-to-suit solution’ caters to the enterprise clients and offers an off-balance sheet, scalable, efficient and flexible model to monetize distributor receivables. The program maximizes distribution network coverage, streamlines the dealer onboarding process and lowers the cost of funds through a securitization trust structure.

Just in Time (JIT) Financing: The JIT program enables your supplier to access capital prior to their invoice being raised based on certain ‘billable’ events being completed. This innovative program is well received amongst the suppliers who provide transportation, facility management, raw material, packaging, etc.

Bequeathing Excellence

For the aspiring entrepreneurs, Nirav has a lot to offer by the virtue of his vast experience in entrepreneurship. The first and foremost is to build a great team – give them the freedom to deliver and trust them. Also, believing in one’s instinct is the mantra of success. Lastly, values, ethics, and one’s conviction is all that matters and should not be compromised ever.

On a concluding note, Nirav expresses, “My current focus and goal is to ensure CredAble fulfils on its purpose, creates a lasting impact and a significant shareholder value over the next few years.”

For more information about Nirav and his venture, click here.