Credlix’s expansion is concentrated on the manufacturing sector
Credlix, a prominent global provider of supply chain financing, has announced its expansion into the United States and Mexico. This expansion is supported by $50 million in funding from Moglix, Asia’s largest B2B e-commerce platform.By addressing critical working capital challenges, fostering business growth, and providing fast, collateral-free financing solutions, this initiative seeks to empower SMEs. This expansion is consistent with Credlix’s overarching objective of enabling small and medium-sized enterprises (SMEs) in emerging markets to engage in global trade opportunities. This correlates with India’s emphasis on fostering global trade partnerships and increasing exports. SMEs in Mexico and India encounter comparable obstacles, including extended payment cycles, operational inefficiencies, and restricted access to affordable financing. Credlix’s expansion into the United States and Mexico is designed to address these challenges by providing rapid, collateral-free financing solutions that enhance cash flow, alleviate financial burdens, and facilitate the expansion of small and medium-sized enterprises (SMEs).
These challenges are well-known in India’s economic environment.Credlix’s expansion is concentrated on the manufacturing sector, which encompasses critical industries such as aerospace components, automotive, textiles and apparel, industrial and consumer chemicals, agriproducts, and electronics. Credlix endeavors to enhance the working capital of small and medium-sized enterprises (SMEs) by providing collateral-free financing that covers up to 90% of the invoice value upon shipment. This action is consistent with India’s overarching objectives to fortify its manufacturing capabilities and cultivate more robust trade relationships with emergent markets.
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Industry Comments
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 Credlix’s 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.”
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