KredX,India’s largest supply chain finance platform, announced a bold and ambitious initiative aimed at reshaping the landscape of financial support for businesses. In a move that underscores KredX’s commitment to empowering businesses, the company is forging a syndicate partnership with several major banks and financial institutions to create a corpus of 4,000 crores by the end of this financial year. This announcement represents a significant milestone, doubling the initial plan and vision set forth for the festive season of 2023.
This groundbreaking initiative seeks to address the pressing financial needs of businesses, particularly in the backdrop of the upcoming festive season when working capital requirements typically surge. By partnering with prominent banks and FIs, KredX aims to offer businesses unparalleled access to the capital they require to thrive, expand, and navigate the opportunities and challenges presented by the festive season. Notably, the company had recently entered into strategic partnerships with Mastercard and ICICI Bank to revolutionize B2B payments.With this ambitious initiative, KredX is poised to play a pivotal role in the financial ecosystem, facilitating economic growth and prosperity for businesses across the country.
Commenting on this remarkable endeavor, Manish Kumar, CEO & Founder at KredX, stated, “At KredX, we are dedicated to revolutionizing the financial landscape and empowering businesses to reach their full potential. Our partnership with leading banks and financial institutions represents a significant step forward in our mission. Seeing the response to the target of 2000 crores we had taken for the festive season 2023, we realized the requirement is much deeper. By creating a substantial corpus of 4,000 crores, we are not only surpassing our own expectations but also reaffirming our commitment to supporting businesses during a pivotal time.”
About KredX: www.kredx.com
Founded in 2015 in Bangalore by Manish Kumar and Anurag Jain, KredX is India’s largest supply chain finance platform accelerating finance through the use of cutting-edge technology and data. The company offers a host of customizable solutions ranging from enterprise finance and cash flow management solutions to working capital and channel financing solutions for businesses, large and small, operating within the supply chain ecosystem while offering unique alternative debt investment solutions to investors worldwide. Through the use of reliable technology to accelerate customer growth, the company aims to become the world’s fastest operating system for supply chain finance.