KredX, a Bangalore India-based invoice discounting marketplace, raised $6.25m in Series A funding.
The round was led by Sequoia India with participation from Prime Venture Partners.
The company intends to use the funds to strengthen the technology, data and sales teams.
Co-founded in 2015 by IIT & Stanford alumni Manish Kumar, Anurag Jain & Puneet Agarwal, KredX is a marketplace for businesses to discount their unpaid invoices (raised against blue-chip companies) to a network of buyers/financiers including banks, NBFCs, wealth managers and retail investors.
The company has developed a proprietary credit risk assessment model for its borrowers along with back-end technology that ensures secure transactions.