Credlix Expands to US and Mexico with $50 Million in Funding from Moglix

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

Credlix’s entry into the US and Mexican markets is seen as a strategic move aimed at providing small and medium-sized businesses with the necessary financial support to improve their cash flow, ease financial burdens and scale operations. A special focus will be on the manufacturing sector, including industries such as automotive, textiles, aerospace, chemicals, agricultural products and electronics.

According to Rahul Garg, Founder and CEO of Moglix, “Just as we supported manufacturing and infrastructure companies in India, Credlix’s expansion into Mexico will enable small and medium-sized businesses to overcome financing challenges and seize opportunities in a dynamic global trade environment.” Moglix intends to continue its strategic investments over the long term, providing funding in phases throughout the fiscal year.

(Based on information from the agency.)