(MENAFN- KNN India) Mumbai, Dec 4 (KNN) Fintech firm Credlix on Thursday said that it has acquired a majority stake in Vanik Finance for Rs 80 crore.

Following this, Vanik Finance will operate fully under the Credlix brand, leveraging advanced analytics and digital underwriting to simplify credit decisions and accelerate turnaround times.

Credlix is the fintech arm of Moglix which was founded by entrepreneur Rahul Garg. It is a global supply-chain financing platform that enables SMEs to access fast, collateral-free working capital. With operations across India, US, Mexico, and the UAE, the fintech firm helps businesses scale sustainably and participate in global markets.

The company in a press note said that the acquisition would help it widen access to timely and reliable capital for MSMEs and exporters.

“Our goal is to support the complete financial lifecycle of small and mid-sized businesses in a way that is simple, transparent, and aligned with their growth needs,” said Rahul Garg, Founder and CEO of Moglix and Credlix.

As MSMEs contribute nearly 30 percent of India's GDP and about 45 percent of exports, timely availability of capital enables them to expand operations both locally and in export markets.

"Across India, business credit is evolving quickly. MSMEs today expect faster, cleaner and more predictable access to capital as they scale, manage cash cycles and invest in growth. Lenders are responding by moving toward smarter business-loan offerings that combine digital onboarding, bank-statement analytics, GST-based assessments and collateral-light structures," Credlix said.

The fintech founder said that MSMEs are the backbone of India's economy and they need financial partners who understand their realities.

“By bringing together technology, supply chain networks, and simplified credit access, we aim to help them grow with confidence,” Garg added.

Considering the key role of MSMEs in supporting economic growth and their need for hassle-free capital, the government recently launched the Credit Assessment Model (CAM) for MSMEs.

The model leverages the digitally fetched and verifiable data available in the ecosystem in order to create an automated process for MSME loan appraisal for both Existing to Bank (ETB) as well as New to Bank (NTB) MSME borrowers.

(KNN Bureau)

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