Total amount raised
$32.7 Millions
Latest funding date
12/1/2019
Location
KredX has successfully raised significant funding over multiple rounds, with its most recent Series B round led by Tiger Global Management. The platform offers innovative financial solutions, including invoice discounting and export financing, to help businesses manage their working capital needs.
Keep reading to explore the intricacies of KredX's fundraising journey and the investors backing this dynamic platform.
What Is KredX?
KredX, founded in 2015 by Anurag Jain and Manish Kumar, is headquartered in Bangalore, Karnataka, India. The company specializes in online invoice discounting, helping businesses raise funds by selling their unpaid receivables. With a team of 101-250 employees, KredX offers a range of financial services, including export financing and cash management solutions.
How Much Funding Has KredX Raised?
- Seed Round
- Amount Raised: $750K
- Date: April 2016
- Lead Investors: Prime Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the platform.
- Series A
- Amount Raised: ₹400M (approximately $6M)
- Date: October 2016
- Lead Investors: Peak XV Partners (formerly Sequoia India)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology, data, and sales functions.
- Series B
- Amount Raised: $26M
- Date: December 2019
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services and enhance the platform.
Total Amount Raised: $32.75M. Current Valuation: Not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that focuses on private and public companies in the technology sector. They led the Series B funding round for KredX, raising $26 million.
- Investment Focus Areas: Technology, consumer, and industrial sectors.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Peak XV Partners
- Details: Formerly known as Sequoia Capital India, Peak XV Partners is a prominent venture capital firm investing in early and growth-stage companies. They led the Series A funding round for KredX.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Google, Apple, Airbnb.
- Prime Venture Partners
- Details: Prime Venture Partners is an early-stage venture capital firm that focuses on investing in technology-driven startups in India. They were the lead investors in the seed round for KredX.
- Investment Focus Areas: Fintech, SaaS, digital health.
- Notable Investments: MyGate, Happay, Ezetap.
What's Next for KredX?
As KredX looks to the future, the opportunities are vast. The invoice discounting market alone is a $100 billion opportunity, and the company aims to become a one-stop shop for this service. By leveraging new regulations that allow 100% foreign direct investment, KredX can attract more international investors, further scaling its operations and technology.
Future fundraising seems promising, with the potential for additional rounds to support their growth. However, challenges such as regulatory compliance and competition from other fintech companies remain. Ensuring the security and reliability of their platform will be crucial to maintaining investor and SME trust.
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