The Supply Chain Power Move: Why Moglix’s Credlix Acquired Vanik Finance

In the high-stakes world of B2B commerce, capital is the ultimate lubricant. This week, Moglix, one of India’s most prominent industrial B2B unicorns, made a decisive move to secure that supply line.

Through its fintech arm Credlix, the company has acquired a majority stake in Vanik Finance, a Delhi-based Non-Banking Financial Company (NBFC). The deal, valued at approximately ₹80 Crore ($9.5M), is not just a purchase—it’s a capital injection designed to scale MSME lending to new heights.

For founders in the B2B space, this acquisition highlights a critical trend: the convergence of marketplaces and lending. It's no longer enough to just connect buyers and sellers; you have to finance the transaction too.

The Deal Dynamics

Why Buy an NBFC?

Until now, Credlix largely operated as a platform connecting MSMEs with external lenders. By acquiring Vanik, Credlix transitions from a matchmaker to a lender. Owning the NBFC license allows them to:

• Underwrite loans faster using their own proprietary data.
• Offer customized credit products (like invoice discounting) that traditional banks might reject.
• Capture the full margin on the loan, rather than just a referral fee.

"Our goal is to support the complete financial lifecycle of small and mid-sized businesses... This milestone helps us widen access to timely and reliable capital for MSMEs."
— Rahul Garg, Founder & CEO, Moglix

The Bigger Picture: Embedded Finance

This move mirrors a strategy we've seen from other tech giants (like Zaggle’s recent move for Rio Money). Vertical platforms are realizing that embedded finance is the key to retention and monetization.

With India's MSME credit gap estimated at over $380 billion, the opportunity is massive. Credlix has already processed over $100M in credit annually; with Vanik’s license and the new ₹80 Cr war chest, expect that number to multiply rapidly in 2026.