NOIDA, India, June 20, 2023 /PRNewswire/ — As global production centers increasingly turn to India as their preferred China +1 option, Moglix, a leading industrial goods distribution company, is driving this transformation through its trade financing solution arm – Credlix.
The symbiotic relationship between India’s booming manufacturing landscape and international trade financing has created a compelling narrative. With focus on leveraging India’s potential and support of financial institutions, North American businesses are poised to make significant strides in India, fostering seamless sourcing exchanges between the two nations forging increased exports and stronger trade ties between India and US.
At the forefront of this transformation is Credlix, the supply chain financing arm of Moglix. Credlix, a frontrunner in International Trade Finance, runs 100% digital operations and offers up to 90% finance on invoice value, funding immediately upon shipment, eliminating the need for lengthy paperwork. With both pre-shipment and post-shipment financing options available (up to $5 Million per Borrower), Credlix offers hassle free and quick financing, allowing manufacturers to focus on their core operations. Additionally, Credlix extends 100% Buyer payment risk coverage, eliminating risk of Buyer non-payment, critical for SMEs in current volatile times.
Credlix’s success story is closely tied to the vision of Rahul Garg, Founder-CEO of Moglix. Garg is a first-generation entrepreneur, who founded Moglix in 2015 with a vision of revolutionizing industrial goods distribution in India for the manufacturing sector with a tech-first approach. He spent five years at Google Asia, leading ad sales strategy before he founded Moglix. At the heart of Garg’s achievements as an entrepreneur are his contributions to an expanding frontier of wireless technology, networking, and satellite technology with 16 US patents, IIT Kanpur – Distinguished Alumni Award 2021, ISB – Scholar of Excellence and Harvard Business School Owners/ President Management Cohort 62 member.
In just two years, Credlix has disrupted the traditional financing landscape prevalent among Indian MSMEs & Exporters, having disbursed over $300 million and financed 65,000+ shipments to date, cementing its position as one of the leading fin-techs in India. With 5,000+ MSMEs onboarded and coverage in 120+ cities, Credlix is on a mission to provide easier access to finance and enabling entrepreneurs to expand their businesses beyond local markets. The product has significantly impacted exports and India–USA ties by enabling a faster flow of products in and out of the country.
Photo: https://mma.prnewswire.com/media/2106307/Rahul_Garg.jpg
SOURCE Moglix
