- Expansion backed by Moglix with funding of $50 Mn
- Move Set to Enhance Cross-Border Trade and Boost Cash Flow for SMEs
New Delhi, September 20, 2024: Credlix, a leading global provider of supply chain financing, has announced its expansion into the USA and Mexico, backed by $50 million in funding from Moglix โ Asiaโs largest B2B e-commerce platform. This move aims to empower SMEs by providing fast, collateral-free financing solutions, addressing critical working capital challenges, and fostering business growth. This expansion aligns with Credlix’s broader vision of empowering SMEs in emerging markets to participate in global trade opportunities, reflecting India’s emphasis on boosting exports and enhancing global trade partnerships.
SMEs in India and Mexico face similar challenges such as limited access to affordable financing, operational inefficiencies, and extended payment cycles. Credlix’s expansion into US and Mexico aims to address these challenges by offering fast, collateral-free financing solutions that improve cash flow, reduce financial burdens, and enable SMEs to scale operations โ challenges that are well recognized in Indiaโs own economic landscape.
Credlix’s expansion is set to boost trade between developing markets in this region, providing businesses in the US and Mexico with a stable supply chain, diversified sourcing options, and quicker access to quality goods. The growing nearshoring trend, which strengthens supply chain resilience, is further supported by Credlixโs presence in the region.
Rahul Garg, Founder & CEO of Moglix, emphasized the importance of this expansion: “Our investment in Credlix demonstrates our commitment to empowering global supply chains. Just as we’ve supported manufacturing and infrastructure businesses in India, Credlix’s expansion into Mexico will enable SMEs to overcome financial challenges and capitalize on opportunities in a dynamic global trading environment.”
Credlixโs expansion focuses on the manufacturing sector, including key industries such as automotive, textiles and apparel, aerospace components, industrial and consumer chemicals, agriproducts, and electronics. By offering collateral-free financing covering up to 90% of invoice value upon shipment, Credlix aims to immediately improve SMEs’ access to working capital. This move aligns with India’s broader efforts to strengthen manufacturing capabilities and foster stronger trade ties with emerging markets.
