KredX raises $26M in Series-B funding led by Tiger Global Management

KredX, an invoice discounting platform, on Wednesday announced it had raised $26 million (Rs 187 crore) in Series-B funding led by Tiger Global Management, with participation from existing investors.  

KredX was started by Manish Kumar and Anurag Jain in 2015 to help businesses meet their short-term working capital needs by facilitating discounting of their unpaid invoices. KredX claims to have processed more than 500,000 invoices helping 5000+ suppliers across 36 cities.

The start-up had previously raised funds from Sequoia Capital and Prime Ventures Partners as part of its Series-A funding.

Scott Shleifer, Partner, Tiger Global said KredX has created an efficient and trusted