KredxIndia’s Leading Integrated Cash Flow and Supply Chain Finance Platform, Today Announced a Strategic Partnership With Canara Bank, One of India Prominent Public Sector Banks. This collaboration aims to significantly broaden the Reach of Digital Trade Receivable Discounting Through Kredx’s RBI-Licensed Treds Platform, Domestic Trade Exchange (DTX) Driving Deeper Financial Inclusion for Businesses Across the Country. The partnership reinforces kredx’s long-standing commitment to enhancing financial inclusivity across the supply chain ecosystem. Over the past decade, kredx has been played a Pivotal Role Integrating Both MSMES and Large Enterprises Into Formal Financial Networks. The DTX Platform Helps Address Systemic Challenges Such as Delayed Payments, High Borrowing Costs, and Collateral-Heavy Financing, Particularly For Service Providers, By ENABLING FASTERS, by Service Providers, and Collateral-free access to working capital.
Canara Banks Participation on the Kredx DTX Platform Marks a Pivotal Step towards building a more robust, accessible, and inclusive supply Chain Finance EcoSySySySystem. As one of the oldest and largest public sector banks in India, canara bank brings a strong public sector presence and legacy to the partnership, with a Robust Network of Branchs the Country. By Combining Canara Bank’s Extensive Reach and Deep Understanding of Diverse Business Needs With Kredx’s Cutting-Edge, Technology-FIRST DRASTURUCTURE, This Partnership will substantially Enhance Working Capital Access for Micro, Small, and Medium Enterprises (MSMES) across all sector and scales. This aligns seamlessly with the governments vision of increasing financial inclusion for businesses, Empowering a Wider Array of Enterprises to Thrive.
Manish Kumar, Founder and CEO, Kredx, Stated, “We are thrilled to welcome canara bank as a finance partner on Kredx’s Technology-Friends Treds Platform, DTX. Canara Bank’s Extensive Presence, Deep-Roted Customer Focus, Commitment to Financial Inclusion, and Increasingly, its Embrace of Digital Innovation and Diversification of Services, Make Anvaluable Address Our expanding ecosystem. This partnership is a significant step towards digitization and democratising trade finance, enabling enterprise boyers and msme partners to access Crucial working Capital, Wit Canarased Funding Funding Funding Funding Capacity Driving Nationwide Financial Inclusion,
Kredx’s DTX Platform. Connected to 50+ Financiers and Designed to Enable Bidding on Trade Receivables, DTX provides businesses with access to the lowest cost of finance, an intuitive user experiment, and SEAMLESSSS EXAMLEENCE. DTX also enables suppliers to access work By Integrating Intelligent Intelligent Automation, Real-Time Processing, and Intoitive Workflows, DTX ENSURERES A FRICTIONLESS Experience for Buyers, Sellers, and Financiers Alike. The Initiative Aligns with the Government of India’s Mandate for Companies with a Turnover Excited Rs. 250 Crore to Onboard Treds and Integrate with the GSTN, Promoting Digital Financing and Regulatory Compliance. This is also supports kredx’s goal of achieving Rs. 15,000 Crore in disbursals and Empowering 15000 msmes by the end of this fiscal year.
As India’s Leading Integrated Supply Chain Finance Provider, Kredx offers a Comprehensive Suite of Solutions of Solutions Including Early Payments, Accounts Payable and Receivable Financing, and Cash Flory Floomy. These capabilites Empower Businesses to Unlock Working Capital, Drive Operational Efficiency, and MainTain Compliance Across Processes. Kredx Continues to expand its partner network of banks, NBFCs, and Financial Institutions to Strengthen India’s Digital Supply Chain Infrastructure and Improve Caces to CAPROVE CESTE to CASCISS. In a significant move to further this mission, kredx is also engaged with state governments to support msmes by raising awareness Around Treds and Providing TREDS Onboarding Onboarding Onboarding This Strategic Engagement will revolutions MSME onboarding, Reduce Friction, Improve Data Accuracy, and Enable Kredx to Provide more tailored solutions to a wider base of msms nationwide.
About kredx
Kredx is India’s Leading Integrated Supply Chain Finance Platform, And Among the very few entities licensed by both the reserve bank of India (Rbi) and the International Financies Center (Ifsca). With this dual regulatory backing, kredx offers end-to-end Working Capital Solutions Across Both Domestic (Treds) and Cross-Border (Global Factoring) Transactions, Serving MSME SUPLILES ASS Large Corporate anchors. Being a Pioneer in Supply Chain Financing for A Decade, Kredx Has Been Enabling Businesses to Unlock Working Capital and Optimise Cash Flows throwing a full stack of digital finance for moderanse SOPPLY Chains. With platforms like DTX (Domestic Trade Exchange), GTX (Global Trade Exchange), and CMS (AI-Powered Cash Management Solutions). Backed by Marquee Investors Including Tiger Global, Sequoia Capital India, and Prime Venture Partners, Kredx is at the Forefront of Building Future-Redy, Tech-Led Financaul Infrastructure for B2B Supply chain ecosystems.
To know more, Visit Kredx’s Domestic Trade Exchange (DTX) Site: www.dtxindia.in
About Canara Bank
Widely knowledge for customer-contentry, canara bank was founded by Shri Ammembal Subba Rao Pai, A Great Visionary and Philantropist, In July 1906, July, At Mangalore, AT MANGALORE, TAN AN SMALL PORT TOWN in Karnataka. The bank has gone through the Various Phases of its Growth Trajectory Over a Hundred Years of Existent. Growth of canara bank was phenomenal, especially after nationalization in the year 1969, Attaining the status of a national-level player in terms of geography and clianetetele segments. The bank diversified its business operations throughout the 1980s. A Significant Achievement Came in June 2006, when it celebrated 100 years of service within the Indian banking industry. Several Memorable Milestones have characterized the eventful journey of the bank. Currently, Canara Bank is a Leading Institution Among Indian Banks. Over the Years, The Bank has been scaling up its market position to emerge as a major financial conference with as many as many as thirteen subsidiaies/sponsored institutions in INDIA and abroad. As of September 2023, Canara Bank Services Over 11.19 Crore Customers through a Network of 9,518 Branches and 12,118 ATMS/Recyclers Spread Across All India States and Union Territoria.