Tiger Global eyes stake in KredX

Share on facebook
Share on google
Share on twitter
Share on linkedin
Time to Read: 2 minutes

Tiger Global may invest $20 million in invoice discounting firm. Tiger Global is in talks to acquire a minority stake in invoice discounting platform KredX

New York-based Tiger Global Management, one of the most prolific investors in Indian startups, is in talks to acquire a minority stake in Sequoia Capital-backed invoice discounting platform KredX, said two people aware of the matter, requesting anonymity.

While details of the transaction are being worked out, Tiger could invest $20 million in KredX, said the first person.

Tiger Global eyes stake in KredX

Invoice discounting is the practice of using a company’s unpaid dues as collateral for a loan, which helps companies better manage their working capital. KredX provides a marketplace for business owners to sell, and investors to purchase invoices, where the counter party is a blue chip company. KredX also offers another product, CapEx, for large enterprises looking to raise funds for growth and capital expenditure needs, by discounting their lease/rental agreements.

Founded by Manish Kumar and Anurag Jain in 2014, it had raised a ₹40 crore Series A round in 2016 led by Sequoia, and with participation from early backer Prime Venture Partners.

Tiger declined to comment. KredX did not respond to emails seeking comment.

So far this year, Tiger has made nearly 20 investments, aggregating to about $500 million, according to investors who have worked with Tiger.

It has primarily been a growth-stage investor, coming in at Series B and C rounds, where Indian startups have traditionally faced difficulty in raising capital. Its recent investments signify a growing interest from Tiger to invest in financial services and B2B sectors. Tiger ramped up its investments significantly after August 2018, when it had made its biggest exit in India with a whopping $2.5 billion in profits during Walmart’s $16 billion takeover of Flipkart. Since then, the firm has seen the departure of its head honcho, Lee Fixel, known for his aggressive deal-making.

Related Article  Babylon Health Raises $550M to Expand its AI-based Health Services

Fixel had spearheaded an early investment in Flipkart in 2009, following it up with another billion dollars over the years.

After Fixel announced his departure in March, Tiger’s investments have been headed by co-founder and partner Scott Shleifer. According to Forbes, some of Shleifer’s best investments have come from China, where the company exited its $200 million investment in e-commerce platform JD.com with $5 billion. Shleifer also led Tiger’s investments in the firm’s return to India after nearly three years.

(Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of www.xtechalpha.com.)

Leave a Reply

SUBSCRIBE FOR XTECHALPHA NEWS AND RECEIVE WEEKLY UPDATES

Xtechalpha Xclusive

RSS Latest Technology News

  • Best Buy Makes Popular PS4 Game Dirt Cheap October 1, 2020
    A popular PS4 game is now dirt cheap, but not courtesy of PlayStation, but Best Buy. Recently, retailers like GameStop, Amazon, and Target have been discounting PS4, Xbox One, and even Nintendo Switch games to absurdly low prices. Now it's Best Buy's ...
    Tyler Fischer
  • PlayStation Plus Free Games For October 2020 Announced October 1, 2020
    October is here, and that means another round of PlayStation Plus free games is right around the corner. Starting October 6, PS Plus subscribers can claim Vampyr and Need for Speed Payback. You still have a few days to add September's free games to your ...
    Steven Petite
  • The first ever Steam Tabletop Fest debuts on 21 October October 1, 2020
    The 21 October marks history as the first Steam Tabletop Fest launches. The event, co-produced by Auroch Digital will last until the 26 October, and is set to feature "virtual let's plays, panels, talks and more streaming activities that explore the fusion between ...
    Ben Lyons

Follow Us

Tiger Global eyes stake in KredX

by Puneet Time to Read: 1 min
0
AI Tool to Reshape Treatment by Predicting Cell Behaviors
Get to know the latest updates on exponential technologies, new age industry segments with our weekly XTechalpha Xclusive newsletter straight in your mailbox.