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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A row has broken out between invoice discounting platform TradeCred and a few investors over a default involving the popular startup Bizongo. This is the latest blow-up in a space that is driven by the allure of high returns and is a regulatory grey area.
For a few weeks now, several investors on bill discounting platform TradeCred have been wrought up. The money they invested in buying outstanding invoices of Bizongo—a popular startup that facilitates buying and selling of raw materials—has been stuck for at least three months, according to eight investors. These investors did not want to reveal their identity because some of them have been served with a legal notice by TradeCred when they took to social media to air their grievances. They have enough trouble as it is but they still want to tell their story.
Founded in 2018, TradeCred is an …
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