Tiger Global Management is reportedly, in talks to acquire a minority stake in invoice discounting platform KredX. Tiger Global could infuse $20 million in the Sequoia Capital-backed platform KredX, reported Mint, citing two anonymous sources.
Founded in 2015 by IIT and Stanford Alumnis, Manish Kumar, Anurag Jain and Puneet Agarwal, KredX company works with SMEs to filter out the credit worthy firms which are seeking working capital. The SMEs are then connected to individual investors expecting higher returns on their investments.
The platform KredX works as a medium for the SMEs to sell their unpaid invoices.
KredX also offers another product, CapEx, for large enterprises looking to raise funds for growth and capital expenditure needs, by discounting their lease/rental agreements.
In 2016, KredX raised ₹40 crore in series A round led by Sequoia, with participated from early backer Prime Venture Partners.
Recently, Tiger Global made several bulk capital investments in startups with different domain.
For more on Tiger Global Management investments, click below:
- Tiger Global puts $25 million in stock broking startup Upstox
- Tiger Global invests ₹107 crores ($15 Million) in fintech startup INDwealth
- Tiger Global leads $23 million series B funding round in restaurant chain startup Wow! Momo Foods
- Fintech startup OkCredit raises $67 million in Series B round from Lightspeed and Tiger Global
- Edtech startup Vedantu raises $40 million in fresh round led by Tiger Global, WestBridge Capital