How did ex-Google leader Rahul Garg build Moglix into a category-defining force in India’s B2B procurement and industrial supply chain? In this Founder Thesis episode, we unpack the playbook, from procurement SaaS to working-capital rails via Credlix, that powers factories across India and beyond.
From IIT Kanpur to Google to founder, Rahul traces the insight that the world would shift from discovery to transaction platforms, and how that led to Moglix’s build in 2015. We dive into why the company registered in Singapore to execute a global ambition, how enterprise procurement differs from B2C, and why payment terms (30–60 days) and supplier credit shape the economics of B2B. We also discuss the buyer-side software that locks in large accounts, the Credlix finance flywheel, and Rahul’s candid view on timing for public markets once scale thresholds are met. Timely for operators navigating India’s China+1 manufacturing moment, funding winter discipline, and the rise of embedded finance in supply chains.
– How Rahul built Moglix for manufacturers, not consumers, plus what “India’s largest & fastest-growing B2B commerce company” really means in practice.
– Why transaction platforms beat discovery in B2B, and how that shaped product, pricing, and ops.
– Enterprise payment terms (30/60 days), supplier credit, and the working-capital flywheel behind Credlix.
– Building a procurement OS: software + catalog + logistics for long-tail MRO.
– Going global from Singapore: why the hub matters for cross-border B2B.
– When to go public: scale thresholds and IPO readiness in industrial B2B.
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00:00 – Rahul Garg’s founder journey
02:10 – From discovery to transactions (B2B)
14:40 – Quitting Google; choosing Singapore hub
25:00 – Building the procurement OS (MRO SaaS)
33:30 – Enterprise payment terms & credit cycles
48:45 – Offline-to-online procurement playbook
56:00 – Credlix and working-capital finance
1:04:00 – Scale first, then public markets
Tags: Rahul Garg, Moglix, Mogli Labs, Credlix, B2B procurement India, industrial supply chain, MRO marketplace, procurement SaaS, embedded finance, working capital India, China+1 manufacturing, funding winter strategies, enterprise payments 30 60 day terms, cross-border B2B, Singapore startup hub, procurement software India, supply chain digitization, Founder Thesis podcast, Akshay Datt, Indian startup ecosystem
