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IIFL Fintech Fund invests in supply chain company Xtracap.

IIFL Fintech Fund invests in supply chain company Xtracap.

IIFL Fintech Fund invests in supply chain company Xtracap, buys majority stake

September 14, 2023
in Fintech
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IIFL Fintech Fund, the early-stage investment platform of the IIFL Group, has reportedly invested ₹25 Crore in supply chain company Xtracap Fintech. With this, IIFL Fintech has picked up the majority 51% stake in Xtracap. 

This is IIFL Fintech Fund’s first investment in a supply chain finance firm. Taking to LinkedIn, Mehekka Oberoi, Fund Manager, IIFL Fintech Fund said, “Supply chain finance is a 10lakh crs market and only 1.2lk crs is catered to as of today. There is a huge scope in the distributor financing segment. And doing it digitally is the way ahead.”

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Xtracap offers e-invoice financing in real time that allows businesses to unlock the value of their invoices, providing instant liquidity. Its dual app serves financing needs of both downstream and upstream channels. 

IIFL Fintech Fund, one of India’s largest funds for the early-stage fintech ecosystem, was founded in 2021. It has since then invested in Finbox, Trendlyne, Finvu, Leegality, Datasutram, Multipl, Insurance Samadhan, Finarkein, Trustcheckr, and Easyrewardz.

Tags: FintechIIFL Fintech FundIIFL GroupXtracap

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