E-commerce platform Moglix invests $50 million in Supply chain arm, ‘Credlix’

Leading B2B e-commerce company Moglix has invested $50 million in Credlix, its supply chain finance division. This action is intended to accelerate Credlix’s growth into important international markets, including as Mexico and the United States.

Credlix is well-positioned to enhance its standing in the field of international trade finance with this new funding infusion, providing companies with easy access to working capital and cross-border financing options.  With a $2.6 billion valuation, Moglix, a company that specializes in supply chain transformation for the manufacturing and infrastructure sectors, presently serves more than 3,000 facilities and over 1,000 major businesses. 

Moglix’s worldwide expansion plan revolves around Credlix, which has already facilitated financing for trade supply chains spanning over 50 countries.

Expressing to this, Rahul Garg, Founder & CEO of Moglix states, “We continue to grow healthy as a company. Last year, there was a healthy balance of growth and profitability. We are well on our trajectory to break-even, which should happen in the next six to nine months. As an organisation, we are investing in our distribution and logistics strength, as well as in manufacturing capabilities.”

Garg emphasized Mexico’s importance in their worldwide goals, pointing out that it is becoming a more important supply chain partner for the United States. “Last year, Mexico surpassed China as the US’s biggest supply chain partner. India and Mexico are important actors in the future of global trade, as the need for alternative supply chain suppliers to China grows, according to Garg.  Another of Moglix’s top priorities is to expand into new categories. Presently, the organization oversees 150 product categories and close to one million SKUs. Garg made a suggestion about the company’s intentions to include more unorganized industrial sectors in the future. 

Garg further added, “Mexico became the largest supply chain partner to the US ahead of China last year. With the growing need for alternate supply chain sources to China, we see India and Mexico as key players in the future of global trade”.

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