Fintech SaaS (Software as a Service) and tax filing platform Clear has acquired supply chain financing tech platform Xpedize, for an undisclosed amount.
The startup’s 25+ member team will continue to run the invoice discounting platform, Clear said in a statement.
This acquisition marks Clear’s foray into credit for small and medium enterprises (SME) and business-to-business (B2B) payments.
This is the company’s second acquisition after taking over another B2B payments platform Ybanq in July 2021.
Gurugram-based Xpedize will be rebranded as Clear Invoice Discounting and will provide working capital and liquidity to suppliers. Clear will cater to suppliers of companies that it already has on its platform across various sectors including pharma, FMCG, auto, among others.
With this new vertical, Clear will compete with the likes of Lendingkart, KredX, Rupeek, among others that offer credit to SMEs.