Clear Acquires Xpedize for an Undisclosed Sum

Clear, a fintech SaaS has announced the acquisition of supply chain financing technology firm, Xpedize for an undisclosed amount. It is the second acquisition of the company after it acquired the B2B payments platform Ybanq.

The Xpedize platform,  now rebranded as Clear Invoice Discounting, provides suppliers with immediate access to working capital and liquidity. By the end of 2010, we plan to process Rs 1,000 crore of total commercial value (GMV) by the end of FY22.

The platform connects to ERPs and enables suppliers to select a discount rate that is mutually acceptable to them and their SME customers. Enterprise will not only earn an additional yield on their treasury cash but will also be able to digitally manage supplier payments with seamless ERP integration and pay early by using a range of financing options.

The platform is already used at several large enterprises, allowing them to pay their suppliers faster. With a separate vertical within Clear, it will encompass all its technology-enabled financial services and help the firm quickly scale to serve several suppliers.

Clear raised $75 million in its Series C funding round in October in order to accelerate its expansion into B2B credit and payments and make a dent in international markets. The funding round saw the participation from new and existing investors. 

Clear currently serves more than six million individual taxpayers in India, 50,000 tax professionals about a million small businesses and 3,000 large enterprises. It covers a wide range of applications such as invoicing, GST, Income tax, wealth management and credit.