KredX Rebrands to Focus on Supply Chain Financing

KredX has completed a major rebranding to help its efforts in becoming a supply chain financing giant, the company announced Jan. 7, which will come with a new logo and revamped website.

The new branding will be another chapter in the evolution of the company’s mission to help companies meet short-term working capital needs, as its products have grown to include discounting of unpaid invoices and other such things.

KredX offers several customizable solutions, which consist of things like enterprise finance to working capital and channel financing solutions for businesses of various sizes in the supply chain ecosystem.

“Customers are the core of our business and as a customer-first company, we are committed to delivering innovative solutions as per their requirements,” Manish Kumar, CEO of KredX, said in a Monday (Jan. 10) CRN report.

“We realized that our customers wanted us to take a deep-dive into supply chain finance and to become an end-to-end solutions provider that can cater to all aspects of supply chain financing and not just invoice discounting,” Kumar continued. “Therefore, our rebranding initiative is a sincere effort to showcase this change and our commitment to the cause.”

The company has also recently debuted some new products including buy now, pay later (BNPL) services for various payments and import-export financing.

PYMNTS writes that the supply chain’s “first mile,” or the processes moving something from theoretical design to physical product, have been getting reassessments as to fix inefficiencies.

Related: Forget the ‘Final Mile’, Digitization Brings Efficiencies to Supply Chain’s ‘First Mile’

Factor CEO and co-founder Doug Shultz told PYMNTS that some of them could be “shockingly manual and tedious.”

Factor’s work helps out with payments and order management for the global supply chain. The company announced Dec. 12 that it had raised $6 million in seed funding, which would go toward modernizing the first mile infrastructure.

Investors want to look into applying FinTech innovations to legacy business-to-business (B2B) workflows, and Factor has a solution that can be easily scaled and integrated into an existing enterprise resource planning (ERP) software.