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Home Featured

Moglix launches Supply Chain Finance Platform Credlix

by Editorial
February 16, 2021
in Featured, Marketing
2 min read
Moglix Launches Supply Chain Finance Platform Credlix
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Mumbai: Asia’s Leading B2B commerce company, Moglix, has announced its foray into the supply chain financing space with the rollout of its digital platform Credlix. Credlix is a digital supply financing platform from Moglix that provides quick collateral-free working capital solutions, exclusively to its suppliers, pan-India through its collaboration with banks.

Currently, the service is available to its 15,000+ suppliers, most of whom are MSMEs. Moglix’s decision to plug into digital supply chain financing is one of the many initiatives it has taken to secure the supply chain ecosystem from disruptions.

Credlix’s supply chain financing platform makes it easy for suppliers to access collateral-free credit from enterprise buyers and banks/NBFCs through invoice discounting. Suppliers will be able to request for early payments from enterprise buyers at affordable discount rates to keep their supply chain up and running. Credlix allows suppliers to monitor all stages of invoice discounting and stay in control of their cash conversion cycle.  From credit application and credit risk assessment to payment approval and final disbursement, suppliers will get a single platform to manage their early payment requests.

Rahul Garg, Founder & CEO, Moglix
Rahul Garg

Elaborating on the launch of Credlix, Rahul Garg, Founder & CEO, Moglix said “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 INR 1000 Crores over the next 12 months and is aiming to touch INR 10,000 Crores discounting value over the next 3 years by scaling up to include more banks, suppliers, and geographies.”

Offline models of credit underwriting have high exposure to manual intervention and use under-reported financial metrics of suppliers. The offline underwriting system makes the credit cycle more risk-prone, and slower. The risk of NPAs and bad debts compel creditors to charge a higher cost for credit. 35% of MSMEs in India receive payments after 3 months of delivering their manufactured goods. Credlix is offering a technology-driven supply chain financing system that will make it easier for suppliers to get just-in-time payments. Credlix is also building other products on its platform that will solve other credit needs of suppliers, by partnering with financial institutions.

Tags: CredlixMoglixRahul Garg Moglix

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