Tiger Global leads round for Indian invoice discounting platform

Existing investors have also participated although they have not been identified. The company raised a $6.3 million Series A from Sequoia Capital India and Prime Venture Partners in 2016. The fresh capital is expected to support hiring, product development, and acquisitions.

KredX operates an invoice discounting marketplace that helps businesses access working capital by selling their unpaid receivables. The service is positioned as providing an opportunity for investors, including high net worth individuals as well as institutions, to earn returns through short-term fixed income instruments.

The company also provides a corporate treasury management dashboard called KredX Early which helps businesses use surplus funds to make early payments to suppliers in exchange for discounts. KredX markets the service as “risk-free” and capable of generating returns of 16%. It also says that 100% of suppliers that use the system become repeat users.  

Tiger was active in the Indian B2B financial services space in September with participation in a $67 million round for OkCredit, a company that helps small-scale merchants reduce paperwork and accounting burdens by digitally organizing credit and payment records. This followed an investment in a similar business called Open Financial Technologies in June.

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• Topics
• South Asia
• Financials
• Early-stage
• India
• Financial Services
• Tiger Global Management