Singapore-based B2B commerce company Moglix has announced its foray into the supply chain financing space launching its digital platform Credlix.
As the Economic Times presents, the platform provides collateral-free working capital solutions, exclusively to its suppliers, pan-India through its collaboration with banks. Currently the service is available to its 15,000+ suppliers, most of whom are MSMEs.
Credlix helps in access to collateral-free credit from enterprise buyers and banks/NBFCs through invoice discounting. Suppliers will be able to request for early payments from enterprise buyers. It allows suppliers to monitor all stages of invoice discounting and stay in control of their cash conversion cycle. From credit application and credit risk assessment to payment approval and final disbursement, suppliers will get a single platform to manage their early payment requests.
