Moglix launches digital supply chain financing platform Credlix
Moglix launches digital supply chain financing platform Credlix with the aim to provide quick collateral-free working capital solutions for its 15000+ suppliers and make the supply chain ecosystem future-proof from disruptions.
Credlix aims to make it easier for the suppliers to get just-in-time payments through its technology-driven supply chain financing system. Suppliers will be able to request early payments from enterprise buyers at affordable discount rates to keep their supply chain up and running even during times of disruption.
Rahul Garg, Founder & CEO, Moglix said in a statement,
MSMEs in India account for 11 crore jobs and 29% of the country’s GDP. Unclogging the cash flow through the supply chain will be integral to fostering winning partnerships between MSME suppliers and large enterprise buyers and realizing the Government of India’s vision for Aatmanirbhar Bharat.
Credlix is on track to provide invoice discounting of Rs 1000 crore over the next 12 months and is aiming to touch Rs 10,000 crore discounting value over the next three years by scaling up to include more banks, suppliers, and geographies.