Customer In Focus: A Logistics Business
Founded in 2015, the technology startup is on a mission to innovate the logistics industry. This B2B logistics startup is focused on short and long-haul operations through a hybrid asset ownership model, cutting-edge technology & an extensive network of a specially designed fleet. The company is working with the likes of Amazon, Carlsberg, Flipkart, GSK, Panasonic, Pepsi, Pepperfry and Tupperware among other marquee clients. According to the Co-founder, the company aims at 5X-10X business expansion by 2018 along with the entry of the company into the part-load market with innovative operating models.
Snapshot of the Technology Startup
Product: Suite of Express Solutions in Line Haul, Full Truckload & Last Mile
On The KredX Platform Since: 21 February 2017
Invoice Amount Discounted Till Date: ₹21 Cr
A Quick Glimpse Of the Startup’s Journey So Far With KredX
Prior to coming on board the KredX platform, the startup found it difficult to keep up with the growing demands of the business. Being a young company, managing day-to-day operational expenses had become a challenge and there was an immediate need to increase the credit line to help with business growth and expansion.
The company approached Banks & NBFCs in search of solutions that could help address their needs but there were several challenges, some of which were:
- The company was required to furnish collaterals and financial history to avail of traditional offerings despite being a young startup
- Expensive when exploring other forms of short-term and long-term borrowing
KredX helped the young startup effectively repurpose their capital needs to better suit the requirements of the growing business. Sourcing credit without impacting the balance sheet was a standard that was beneficial to the business.
How We Helped
The startup was able to better manage its overhead costs on time due to increased revenue creation. In addition to this, this also led to better adoption of business strategies due to the availability of ready funds.
The logistics tech business started from a ₹20 lakh limit sanction with KredX that has now increased to a ₹3.8 Cr limit, a clear indication of massive business growth in a short span of time. The number of enterprises dealing with the company also grew manifold. The startup was able to set up tangible growth parameters due to timely revenue retention leading to the accomplishment of company objectives on time and enhanced prospects of faster business growth.