KredX changes brands to focus on supply chain finance
KredX has completed a major rebranding to help its efforts to become a supply chain finance giant, the company said on Jan. 7, which will be accompanied by a new logo and revamped website.
The new branding will be another chapter in the evolution of the company’s mission to help businesses meet short-term working capital needs, as its products have grown to include discounting for unpaid invoices and the like.
KredX offers several customizable solutions, which consist of things like corporate finance, working capital, and channel finance solutions for businesses of different sizes in the supply chain ecosystem.
“Customers are at the heart of our business and as a customer-centric company we are committed to delivering innovative solutions that meet their needs,” said Manish Kumar, CEO of KredX, in a CRN report on Monday 10 January.
“We realized that our customers wanted us to go deeper into supply chain finance and become an end-to-end solution provider that could address all aspects of supply chain finance, not just l ‘discounting bills,’ 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 launched new products, including Buy Now, Pay On Later (BNPL) services for various payments and import-export finance.
PYMNTS writes that the “first mile” of the supply chain, or the processes moving from theoretical design to physical product, have been reassessed to correct inefficiencies.
Related: Forget the ‘last mile’, digitization improves the efficiency of the ‘first mile’ of the supply chain
Factor CEO and co-founder Doug Shultz told PYMNTS that some of them could be “shockingly manual and tedious.”
Factor’s work facilitates payments and order management for the global supply chain. The company announced on Dec. 12 that it had raised $ 6 million in seed funding, which would be used to modernize first-mile infrastructure.
Investors want to apply FinTech innovations to legacy business-to-business (B2B) workflows, and Factor offers a solution that can be easily scaled and integrated with existing enterprise resource planning (ERP) software.