KredX enters export financing, aims to disburse $2 billion by end of FY23

NEW DELHI: Supply chain finance platform KredX on Wednesday announced the expansion of its services into post-shipment export financing with KredX Global Trade.

The company aims to empower businesses and their trade partners to have quick, digital and collateral-free access to liquidity against their receivables at competitive market rates.

KredX aims to accomplish a book size of $2 billion by end of the current financial year, and expects a 25-30% impact on overall business within a period of one year through this new offering.

According to the company, the initial focus will be on providing financing solutions to Indian corporates for international trade between key trade corridors such as the US, Europe, Middle East and the rest of Asia. So far, the company has disbursed more than $100 million in funding requirements.

KredX Global Trade will focus on providing financing solutions to Indian corporates along with a platform that will offer connectivity to the global liquidity pools and investors, allowing investors to invest with confidence.

The company recently collaborated with Tradewind Finance, a global financial solutions company, to provide enhanced export and supply chain financing solutions to businesses. This collaboration will focus on providing financing to the international businesses of KredX customers at competitive rates.

KredX was among the four entities to be granted a license by International Financial Services Center (IFSC) to set up the ITFS platform at GIFT city.

“KredX has witnessed robust transaction flows via its platform. More than six billion transactions have been processed till date and 40,000+ businesses have increased their capital velocity 25-30 times in a year on an average. We are very excited about our expansion into global trade services and are ecstatic at extending our capability into a larger array of services. We have also partnered with leading financiers in key global markets to create hassle free financing options and more tie-ups are impending,” said Manish Kumar, founder and CEO at KredX.