India, June 9 -- AI-led fintech startup AbleCredit is in talks to raise $5 Mn in its Series A funding round, sources told Inc42.

The funding round will be led by a top Indian VC firm, the sources said, adding that existing investors Merak Venture and Venture Catalysts will also participate in the Series A round.

"They are in active discussions with a couple of tier I investors and a major strategic investor to participate in the round," one of the sources said, without disclosing the names of the potential investors.

The startup will use the fresh funds to further improve its credit underwriting model, the sources added.

A detailed questionnaire sent to AbleCredit didn't elicit any response till the time of publishing the story.

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