KredX operates an invoice-discounting marketplace that allows businesses to discount unpaid invoices raised against blue-chip companies to a network of buyers including banks, NBFCs, wealth managers and retail investors. The company was co-founded in 2015 by IIT and Stanford alumni Manish Kumar, Anurag Jain and Puneet Agarwal and is headquartered in Bangalore, India. KredX has developed a proprietary credit risk assessment model for its borrowers and back-end technology designed to ensure secure transactions. The platform focuses on matching corporate receivables with a range of financiers to unlock working capital. The company intends to use the Series A proceeds to strengthen its technology, data and sales teams. KredX operates a technology platform and marketplace that enables micro, small and medium enterprises (MSMEs) to raise working capital by discounting unpaid invoices from their large clients. The company has developed proprietary credit underwriting algorithms and a credit risk assessment model to support fast, secured transactions for borrowers and due diligence and sourcing services for financiers. KredX also manages paperwork and has partnered with banks, accounting firms and law firms to ensure regulatory compliance and consumer protection. Since an invitation-only launch, the startup says it has processed over 1,000 invoices ranging from INR 1 lac (approx. US$16,000) to INR 1 crore (approx. US$160,000) and is now launching its service commercially. The founders are IIT and Stanford alumni Manish Kumar, Anurag Jain and Puneet Agarwal, and the company positions itself as a technology-driven organiser of India’s largely unstructured invoice-discounting market. Competitors mentioned include SAIF-backed Capital Float and Accel-backed LetsVenture.

Total raised

$7M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2016