India’s largest TREDs platform Invoicemart sets new benchmark, financing MSME invoices worth over USD 2Bn

Mumbai: Invoicemart, India’s largest Trade Receivables Discounting System (TReDS) platform, has set a new benchmark in TReDS by facilitating financing of MSME invoices of USD 2Bn+ through its online platform. The RBI licensed market-place clocked a monthly throughout of Rs.1000crs+ in August 2021 and is the only TReDS platform to get 11,000+ participants (incl 10000+ MSME vendors) enrolled.

This benchmark could be achieved with increased participation from Corporates and an active scale up of participation by Government entities on the platform. Large Government entities are now consistently routing payments to their MSMEs through the platform.

Digital transformation and adoption of invoice financing platforms like TReDS has helped MSME vendors to get early payments and bounce back to pre-COVID 19 levels. Invoicemart, through its digital invoice discounting solution has taken the benefits of TReDS to MSMEs in 570+ cities across India. Invoicemart has been able to reach MSME vendors through webinars organized by corporates/government entities, planned outreach programs and tie-up with local trade associations. The platform has worked with closely with several government entities to release pending payments to its MSMEs.

Invoicemart, currently have a strong customer base of 920+ anchor CPSEs/PSUs, Corporates, Banks and NBFC Factors. 10,000+ MSMEs who have registered as participants are availing benefits of routing their invoices through TReDS and getting extremely competitive rates. MSMEs of Government entities are getting interest rates at levels they have never got financing before.

Major policy changes announced by Government like introduction of new definition for MSMEs, issuance of Udyam Registration Certificate to MSMEs through an online portal, inclusion of Traders in definition of MSME and the recent approval of the Factoring Regulation (Amendment) Bill, 2021 allowing appx 9000 NBFCs to register as Financiers are expected to further boost participation on TReDS. The platform is now expanding its reach and in talks with various state government/departments who are keen to help their MSMEs get benefits from this digital market-place.

The ease of access to invoice financing and the market-place concept is indeed getting popular among the MSME vendors. Invoicemart has seen 790,000+ invoices routed through its platform and there is constant demand from these registered MSMEs for the platform to get more of their Buyers to actively participate on TReDS.

Prakash Sankaran, MD & CEO, A. TReDS Ltd said “We attribute this achievement to all our customers – PSUs/Corporates, Banks, NBFC Factors and MSMEs and their active participation on the platform. Their constant support and feedback have helped us build the business as per their expectations. We are also happy that the Government entities are using our platform to provide easy access to finance for their MSMEs. We have an exciting year ahead and hoping to set newer benchmarks in the TReDS and fintech space”