Decoding Moglix’s Success and Acquisition Strategy
In the recent interaction with Rahul Garg, Mint covers Industrial goods marketplace Moglix, that counts Sequoia Capital, Tiger Global and Accel Partners among its investors. The company has earmarked $100 million (Rs 814 crore) as part of its strategy to acquire up to three companies in the next 12 months.
Moglix launched in February 2021 the digital supply chain financing platform Credlix, which acquired trade financing focused fintech startup NuPhi for an undisclosed amount in November. Last year, Moglix also bought machinery marketplace Vendaxo.
“In terms of our global expansion plans, we have entered the UAE market last year and we are looking to foray into two more emerging markets. We are also looking deeper into Indian micro markets, which comprises energy, electric vehicles, hydrogen and solar verticals,”adds Rahul Garg