Strategic Acquisition, Expansion and Scaling Up: Moglix Growth Action Plan in line

Business-to-business (B2B) commerce platform Moglix, which stormed into the unicorn club this year after raising fresh funding at a valuation of $1 billion, expects to breakeven in 18-24 months even as it looks to make acquisitions, expand its categories and double down on its Middle East business.

“We have found that while today on the consumer side there is a lot of capability to get lending access in a fast manner from many platforms, the same thing on the B2B side is missing,”

Rahul Garg said

We believe that India has a $150-200 billion worth of financing need in the B2B space and there is at least $30-50 billion worth of need unfulfilled today. If we execute it properly, we are looking at $2 billion to be disbursed annually as part of the platform in 12-18 months.

Talking about his international plan and expansion in UAE, he added

“We entered the Middle East two months back. We have a team and a warehouse there and we are doubling down in the region. On the one hand, we have shipped to more than 120 countries over the last six years. We were shipping pandemic PPE (personal protective equipment) supplies in more than 25 countries. The other dimension is how our full-stack solutions in India are applicable across emerging markets (and how do we take it there).”

Moglix grew at 3x plus over the last 18 months as a company. We continue to scale our offering across multiple categories and there is always the unpredictability of what happens in the next few months but we are on track to grow 2-3x in this financial year. We have provided liquidity during the last two fundraisers to our employees. We cover 25-30% of our employees as part of the ESOP plan. We are continuing to double down. We would have announced Rs 30-40 crore worth of ESOPs. In the last 12 months, we hired more than 500 people. We aim to hire 300-400 people in the next six months. We didn’t do any layoffs during the pandemic.

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