Bengaluru based invoice discounting marketplace KredX has raised Rs 40 Cr in Series A funding led by Sequoia Capital. KredX has built a technology marketplace, where it connects small and medium enterprises (SMEs) with investors who are willing to buy these unpaid receivables to help them with their working capital cycles.
The funding will be used by KredX to strengthen its technology, data and sales functions within the company. Invoice discounting marketplace KredX has raised about Rs 40 crore in series A funding led by Sequoia Capital India along with existing backer, early stage investment firm Prime Venture Partners. The Bengaluru-based startup has built a technology marketplace, where it connects small and medium enterprises (SMEs) with investors who are willing to buy these unpaid receivables to help them with their working capital cycles. KredX was founded in 2014 by Manish Kumar and Anurag Jain as Mandii, while Puneet Agarwal joined the team last year.
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