Moglix to invest $50 million in Credlix for expansion in USA, Mexico ...Middle East

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Moglix to invest $50 million in Credlix for expansion in USA, Mexico
source : Business Standard ( Middle East ) () 58
B2B e-commerce unicorn Moglix on Friday announced its plans to invest USD 50 million to support the expansion of its supply chain financing subsidiary, Credlix, into the US and Mexico. Credlix will offer collateral-free financing solutions that improve cash flow, reduce financial burdens, and enable SMEs to scale operations in the US and Mexico. "Credlix has announced its expansion into the USA and Mexico, backed by USD 50 million in funding from Moglix," a company statement said. "The decision to invest was made within this financial year. The investment will be phased within the year. Additionally, Moglix will continue to invest long term," Moglix Founder and CEO Rahul Garg said. Credlix's

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