Clear Acquires Supply Chain Financing Tech Firm Xpedize The invoice discounting solution will be available to Clear's existing 3,000-plus enterprise customers

Clear (ClearTax), a fintech SaaS company, has acquired supply chain financing technology firm Xpedize. This is Clear's second acquisition after taking over Ybanq, B2B payments platform.

The Xpedize platform, which will now be rebranded as Clear Invoice Discounting, delivers access to instant working capital and liquidity to suppliers.

"Indian businesses need access to faster payments and efficient financing. While consumer payments have become real-time thanks to UPI, we believe much can be done for the suppliers to larger companies. 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.

"With Clear's acquisition we will continue to focus on customer success and our approach will be fully customer backward. We are enthused by Clear's culture and we are excited to make best-in-class products from India for enterprises around the world," said Deepak Gugnani and Regan Mithani, founders, Xpedize.

The invoice discounting solution will be available to Clear's existing 3,000-plus enterprise customers. By providing working capital solutions to the vendors of their enterprise customers, Clear is targeting to achieve $3 billion throughput by FY24. The platform is already integrated with some banks and TReDS platforms. Over the next few quarters, Clear Invoice Discounting will integrate with many more banks and NBFCs to ensure a robust supply of credit to a wider supplier base, said a statement.