Company Name : KredX
Funding Amount : $750,000
Investor(s) Prime Venture Partners
Funding Round : Not Disclosed
Prime Venture Partners has invested $750,000 in KredX, an invoice discounting platform that connects MSMEs looking to raise working capital (against their unpaid invoices) to individual financiers looking for opportunities to earn above-average financial returns.
Launched by IIT & Stanford alumni; Manish Kumar, Anurag Jain & Puneet Agarwal in 2015, KredX (previously known as Mandii) enables the growth of MSMEs by unlocking cash tied up in customer invoices that would otherwise be paid in 30 to 90 days.
KredX enables MSMEs to raise working capital finance by discounting their unpaid invoices from corporates to a network of financiers on KredX`s platform. By doing so, it offers financiers access to risk-mitigated, high yield & short-term investment opportunities.
KredX has partnered with leading banks, accounting firms and law firms to ensure all aspects of the service are fully compliant with regulations and ensure consumer protection at all times.
The startup has developed a proprietary credit risk assessment model for borrowers and technology platform that ensures fast, hassle-free and secured transactions.