IIFL Portfolio Company Xtracap Unveils Instant Disbursal for E-Invoice, UPI Moment for SCF: Transforming Indian Fintech Landscape

Xtracap CEO Mr. Riaz Mohammed said, "At Xtracap, we are committed to spearheading technological innovations that proactively address future challenges. While the adoption of E-Invoicing is still in its infancy across Indian industries, we have already implemented E-Invoice-based financing following a successful test run."

This latest fintech innovation is anticipated to catalyze a transformative shift in the operational dynamics of the supply-chain finance ecosystem in India.

Ms. Mehekka Oberoi, Fund Manager at IIFL Fintech Fund said, "We are thrilled by this new initiative of our investee company Xtracap Fintech, the near instant disbursement for a credit product will re-imagine the delivery of working capital credit to MSMEs, with just in time finance, MSMEs can create a better bargaining position and improve their profitability."

Xtracaps E-Invoice Enabled Instant Disbursements represent a watershed moment in the Indian Fintech landscape, underlining the companys unwavering commitment to pioneering innovation and driving positive change. This UPI like experience for MSMEs may democratize and transform the way receivable are financed in supply chain finance.