Xpedize, a supply chain finance firm Xpedize has been acquired by Fintech SaaS firm Clear, formerly known as ClearTax. Xpedize will be now known as Clear Invoice Discounting. Although the financial details related to the acquisition have not been revealed, according to the come sources it is considered to be around Rd 100 crore. The founders and a team of 25 members will be joining the clear.
The main aim of this acquisition is to support Clear’s ambitious plans to mark its presence SME credit and B2B payments. The Clear Invoice Discounting also plans to increase investment in the invoice discounting vertical as the company endeavors to scale it 20x within a year.
Run-on artificial intelligence and machine learning, the Xpedize platform will be connecting to Enterprise Resource Planning (ERPs) software and facilitate the suppliers to select a discount rate that is mutually acceptable to their suppliers and SME (small and medium-sized enterprises) customers. Enterprises will be able to digitally manage supplier payments with ERP integration and pay early using a range of financing options.
