NewsVoir
Bangalore (Karnataka) [India], October 7: KredX, India's largest supply chain finance platform, today announced the 8th edition of KredX Muhurat Trading, India's biggest invoice discounting and alternative investments event, scheduled for October 17, 2024. This annual flagship event provides a unique opportunity for both investors and businesses to benefit mutually, with investors accessing attractive returns and premium rewards while businesses secure much-needed working capital by selling unpaid invoices within seconds.
Building on the success of previous editions, KredX Muhurat Trading 2023 witnessed participation from over 2,000 investors, more than 25,000 invoices listed and discounted in a single day, and 700+ businesses generating immediate working capital. As the 2024 edition approaches, we anticipate even greater participation from Financial Institutions (FIs), large enterprises, and MSMEs. This year, KredX aims to discount invoices worth more than Rs. 500 crore in a single day, empowering businesses to meet their working capital needs swiftly.
The event comes at a crucial time for enterprises and MSMEs alike, particularly during the festive season, which is vital for suppliers and vendors. Many large e-commerce platforms and listed enterprises are proactively participating to optimize early payments. They are leveraging KredX's SaaS products to discover mutually beneficial discounts that support their suppliers and vendors. The high participation from FIs and businesses, including MSMEs seeking working capital, highlights the growing significance of alternative investments within the business ecosystem. By offering innovative financial products, KredX empowers investors to tap into these alternative financing opportunities, while businesses benefit from a fast, efficient route to securing working capital.
Commenting on the event, Manish Kumar, Founder & CEO of KredX, said, "As we prepare for the 8th edition of KredX Muhurat Trading, we're seeing remarkable participation from enterprises and financial institutions, reflecting a growing recognition of the ecosystem's interdependence. The festive season is a critical period for businesses, and early payments supported by invoice discounting help businesses scale their operations efficiently. Through this platform, we are facilitating relationships between enterprises, suppliers, and investors that drive growth and prosperity."
He added, "Our investor network is playing a pivotal role in fostering these partnerships. The rising interest in alternative investments speaks to a broader shift in the market, and KredX Muhurat Trading offers a streamlined process where businesses can secure working capital in as little as 45 seconds. This year, we aim to discount invoices worth more than Rs. 500 crore, helping businesses meet festive demand and drive up to 10x growth through immediate sanctions and reduced discount rates."
Founded in 2015 in Bangalore by Manish Kumar and Anurag Jain, KredX is India's largest supply chain finance platform accelerating finance through the use of cutting-edge technology and data. The company offers a host of customisable solutions ranging from enterprise finance and cash flow management solutions to working capital and channel financing solutions for businesses, large and small, operating within the supply chain ecosystem while offering unique alternative debt investment solutions to investors worldwide. Through the use of reliable technology to accelerate customer growth, the company aims to become the world's fastest operating system for supply chain finance.
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