Prime Venture Partners Invests on Silver Linings in Financial Technology- KredX


Out of the 98% of Indian SMEs (Small and Medium Enterprises) that have contracted trade credit to their domestic and foreign customers, 30% of the total value of invoices remained unpaid in the Asia-Pacific region, giving rise to an issue of lack of credit for micro-level enterprises and inaccessibility of blue-chip (profitable, reliable) invoices for investors.

When life gave them lemons, IIT Kanpur alumni Anurag Jain and Manish Kumar, along with Stanford alumnus Puneet Agarwal made lemonade with their smart start-up, KredX, which potentially marks the dawn of efficient financing in the economy. KredX provides discounted invoices to the SMEs, with not a single invoice being unreturned as of now, thereby boosting trade.
KredX has now been invested in by Prime Venture Partners, thus showing great promise, with a fool proof, risk-eliminating data collecting and management system to run the whole scheme.