Moglix acquires NuPhi, enters EXIM financing space

Monday 15 November 2021 10:43 CET | News

Singapore-based B2B ecommerce company Moglix has bought fintech startup NuPhi to solve credit access to MSMEs and automate EXIM workflows.

Moglix company officials stated that as they continue to grow across verticals and geographies, they are building a single operating system for B2B commerce in the manufacturing sector. NuPhi offers financing solutions that leverage the synergies from an integrated B2B commerce business, from procurement to invoicing and financing.

Moglix recently turned unicorn, raising USD 120 million in a May 2021 round. The fundraise was led by Falcon Edge Capital and Harvard Management Company (HMC), with participation from existing investors such as Tiger Global, Sequoia India, and Venture Highway.

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Keywords: ecommerce, e-invoicing, acquisition, lending, expansion
Categories: Payments & Commerce | E-invoicing, SCF & E-procurement
Countries: Singapore
This article is part of category

Payments & Commerce