Credlix Expands to USA and Mexico with $50 Million Backing from Moglix

Moglix announced a $50 million investment to expand its supply chain financing subsidiary, Credlix, into the US and Mexico. Credlix will provide collateral-free financing to help SMEs improve cash flow and scale operations. The expansion targets the manufacturing sector, including automotive, aerospace, textiles, and more.

B2B e-commerce giant Moglix has revealed plans to invest $50 million to back the expansion of Credlix, its supply chain financing arm, into the United States and Mexico. This significant financial push aims to bolster SMEs in these regions by offering collateral-free financing solutions.

Credlix's entry into the markets of the USA and Mexico is seen as a strategic move to provide small and medium enterprises with the necessary financial support to improve their cash flow, ease financial burdens, and scale operations. The focus will be particularly on the manufacturing sector, covering industries such as automotive, textiles, aerospace, chemicals, agriproducts, and electronics.

According to Moglix Founder and CEO Rahul Garg, ''Just as we've supported manufacturing and infrastructure businesses in India, Credlix's expansion into Mexico will enable SMEs to overcome financial challenges and capitalize on opportunities in a dynamic global trading environment.'' Moglix aims to continue its strategic investments long term, with phased funding throughout the financial year.

(With inputs from agencies.)