A graduate from IIT Kanpur, Manish Kumar has over a decade of experience in the banking and financial industry. Subsequent to which, he founded ‘KredX’; India’s first invoice discounting marketplace that connects businesses looking to raise fast working capital, with investors. To understand his business model simply, he says, “We enable the growth of small businesses by unlocking cash tied up in customer invoices that would otherwise be paid in 30 to 90 days.” Apart from founding KredX, Manish is also a father of a toddler, an avid cyclist, and a movie buff.
The problem with the corporate world is that challenging work is fleeting after which there is a long hiatus of boredom. I wanted to flip this around, to have real working challenges to work on and solve regularly.”
Flipping it around
Entering the corporate world is what intrigued Manish to solve problems, he says. The passionate entrepreneur also observed that a lot of start-ups required immediate working capital. He says, “The problem with the corporate world is that challenging work is fleeting after which there is a long hiatus of boredom. I wanted to flip this around, to have real working challenges to work on and solve regularly.” Therefore, he quit his secure, cushy corporate job to follow his passion of solving problems.
As a child I started out with wanting to be a superhero! This ambition was replaced by me wanting to be a scientist and then an IAS officer for a brief period of time. Nowhere during all of this did I see myself getting into engineering and landing up in the finance field of all things! In retrospect, however, I can’t picture myself doing anything else but this!”
Rising above negativity
Like all successful companies, Manish faced a lot of challenges in the initial stages of his business. Apart from the challenge of getting people to understand the concept of invoice discounting, Manish also faced a lot of negativity and rejection from people. More often than not, people constantly told him that his idea would never work. Also, raising capital during the seed round and building a good team was amongst the other top challenges says the entrepreneur. However, Manish has managed to overcome and face each challenge that’s thrown at him and he wishes to move forward in growing and expanding KredX to make it a global phenomenon with offices across the world.