Moglix Invests $50 Million in Credlix for U.S. Expansion

21 Sep, 2024

Moglix Invests $50 Million in Credlix for U.S. Expansion

B2B e-commerce unicorn Moglix has announced a significant investment of $50 million to expand its supply chain financing subsidiary, Credlix, into the U.S. and Mexico. This strategic move aims to provide collateral-free financing solutions that enhance cash flow, alleviate financial pressures, and enable small and medium-sized enterprises (SMEs) to scale their operations in these key markets.

The investment will be phased throughout the year, with Moglix's long-term commitment to Credlix’s growth evident in this decision. Credlix plans to focus on various manufacturing sectors, including automotive, textiles and apparel, aerospace components, industrial and consumer chemicals, agriproducts, and electronics. This expansion reflects Moglix's ongoing support for manufacturing and infrastructure businesses, similar to its successful initiatives in India.

Founder and CEO Rahul Garg emphasized that Credlix's entry into Mexico is designed to help SMEs navigate financial challenges while seizing opportunities in a rapidly evolving global trading environment. Valued at $2.6 billion, Moglix currently serves over 1,000 large manufacturers and more than 3,000 factories, showcasing its robust presence in the B2B e-commerce landscape.