Clear, a Fintech SaaS platform has acquired supply chain financing technology firm Xpedize.
With this acquisition, Clear aims to move forward in its plans to foray into SME credit and B2B payments. This is Clear’s second acquisition after taking over B2B payments startup yBANQ in July 2021.
The Xpedize platform, which will now be rebranded as Clear Invoice Discounting, gives suppliers access to immediate working capital and liquidity. Clear said it is expected to process 1,000 crores GMV annually by the end of FY22.
“This acquisition speeds up our journey towards enabling these two lifelines for Indian businesses. Xpedize platform is already running with multiple large enterprises and allows them to pay their suppliers faster. We believe that a separate vertical within Clear will encompass all our technology-enabled financial services and help us quickly scale to serve millions of suppliers,” said Archit Gupta, Founder, and CEO, Clear.
“This acquisition is important for us as we strive to make supply chain financing programs with large enterprises successful. A large chunk of businesses in India use our GST compliance suite, and these customers will reap the benefits of the network effect. Higher supplier participation, zero overheads for enterprises, and better discount rate discovery are our three focus areas to disrupt this space,” Gupta added.
“With Clear’s acquisition we will continue to focus on customer success and our approach will be fully customer backward”, said, Deepak Gugnani and Regan Mithani, founders, Xpedize .
Bangalore-based fintech startup clear was founded in 2011 by Archit Gupta, Clear provides solutions for income tax filing, GST, and mutual fund investments.
The Fintech company Clear said that we are on a mission to simplify finances for Indians.