Mumbai, Sep 04: Credlix, the cross-border trade financing platform by Moglix, has crossed USD 1 billion in export financing, supporting more than 1,000 MSME exporters across India, Mexico, the US, the Middle East and Singapore. Credlix brings together an RBI-regulated NBFC in India and an IFSCA-regulated GIFT City entity, a combination that allows it to support the manufacturer at home and the buyer abroad. Mexico is one corridor where that combination is being put to use.
The company has committed more than USD 100 million towards financing Mexican companies in FY27, supporting Indian manufacturers who supply buyers in Mexico, as bilateral trade between the two countries reached over USD 11 billion. Reflecting this engagement, the Embassy of India recently brought Mr Rahul Garg, Founder and CEO, Moglix, Credlix and Cognilix, together with India’s Ambassador to Mexico, Dr Pankaj Sharma, Mr Jose Mora Medina, President, Coparmex, and Mr Juan Pablo Medina Mora Icaza, CEO of the same organisation, to discuss opportunities for deeper India-Mexico business ties.
The corridor reflects a wider need. India’s merchandise exports have started FY27 on a strong note, reaching USD 173.78 billion between April and July, registering 17.04% growth. As Indian businesses expand overseas, timely working capital becomes increasingly important, particularly for MSME exporters managing longer payment cycles. Export factoring can help bridge this gap by funding exporters against overseas receivables, helping them manage cash flow and take on larger international orders.
Commenting on the milestone, Rahul Garg, Founder and CEO, Credlix, said,
“India’s export factoring market is still at an early stage compared with more developed markets, where factoring is significantly more established. With factoring penetration in India at below 1% of exports, there is an opportunity to build greater awareness and specialist capabilities to help MSMEs secure export finance and scale their global businesses. At Credlix, we are focused on building these capabilities and helping more Indian exporters obtain the working capital they need to grow across global markets.”
Credlix‘s export factoring model enables financing in major export currencies such as USD, EUR and GBP. For FY27, the company targets financing more than USD 500 million of exports from India alone.
Pramit Joshi, Vice President, Credlix, said,
“India has made significant progress in building digital and formal financing infrastructure for MSMEs, and export financing calls for a further set of capabilities alongside it. Domestic mechanisms such as TReDS were designed for a different context, where buyer verification, KYC, recovery processes and regulatory requirements work differently from overseas trade. Building stronger participation from overseas buyers and developing the capabilities needed to manage cross-border receivables can help more Indian MSMEs access export finance, take on larger international orders and expand into new markets. This will be increasingly important as India realises the market-access opportunities created through FTAs, since the benefit of these agreements will ultimately depend on our ability to convert market access into sustained export growth.”