Mumbai, Sep 13 (PTI) IIFL Group's early-stage investment vehicle IIFL Fintech Fund has invested a reported Rs 25 crore for a 51 per cent stake in a supply-chain finance platform, Xtracap Fintech.

This is the fund's first investment in a supply chain finance firm, the company said in a statement without disclosing any financial details of the transaction.

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But sources told PTI that they have picked up 51 per cent for Rs 25 crore, valuing Xtracap at Rs 50 crore.

Xtracap offers e-invoice financing that allows businesses to unlock value of their invoices in real-time, providing instant liquidity. Its dual app serves both downstream and upstream channel financing needs. By using invoices and receivables as collateral, financing facility is made available.

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IIFL Fintech Fund was launched in August 2021 with a corpus of Rs 210 crore and has since invested in Trendlyne, Leegality, Finbox, Datasutram, Multipl, Finarkein, Trustcheckr, Finvu, Insurance Samadhan and Easyrewardz.

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