KredX, the supply chain finance platform, aims to establish a fund of Rs 4,000 crores by the conclusion of the fiscal year 2024. To achieve this goal, the company intends to form strategic alliances with several prominent banks and financial institutions.

In an interview with CNBC-TV18, Manish Kumar, the Founder & CEO of KredX, expressed their aspiration to disburse this fund by the end of 2023.

"We have put a target for Rs 2,000 crore and out of that we have already disbursed 90% of the target. The remaining Rs 2,000 crore we are hoping to disburse by end of 2023, although the target is for FY24," Kumar said.

Established in 2015 and headquartered in Bengaluru, the startup has already unveiled collaborations with MasterCard and ICICI Bank. Additionally, it is currently in discussions with 4-5 major banks for potential partnerships.

Kumar emphasised the increasing demand for capital in sectors such as manufacturing, consumer durables, fashion, mobiles, and logistics.

Watch accompanying video for entire discussion.

First Published:Oct 11, 2023 10:00 PM IST