Mumbai, India, March 20, 2019: Leading digital invoice discounting marketplace, Invoicemart just crossed Rs. 2,500 crores in business volume on March 19, 2019. Launched in 2017, the platform has over 100 corporate buyers and 23 financiers like State Bank of India, Bank of Baroda, DBS Bank, Lakshmi Vilas Bank, among others.
Invoicemart has successfully on-boarded over 1700 participants, which shows the growing traction of TReDS model amongst MSMEs. TReDS (Trade Receivables Discounting System) is an institutional setup for flow of finance to micro, small and medium enterprises (MSMEs) through multiple financiers at a competitive rate.
Speaking on this achievement, Mr. Kalyan Basu, CEO & MD, A. TReDS Ltd. (Invoicemart) said, "The Government’s push to support MSMEs through various measures has resulted in many private and public sector corporates registering on our platform. We are seeing an increase in the value and volume of transaction month on month basis. The response has also proved the value which TReDS is bringing to all the participants."
According to a CII Survey, the MSME sector has seen job creation growth by 13.9% in the last four years with micro enterprises being the biggest contributor. Overall, India has about 65 million MSMEs who create 120 million jobs and account for 30% of the country’s economic output. It is also responsible for 30% of the total employment generation in India.
TReDS platforms are developing as a credible source of working capital finance for MSMEs. The growing volume and value of transactions is a positive sign, especially in the wake of liquidity crisis being faced by NBFCs, considered a major source of credit for MSMEs.
Invoicemart, owned and operated by A.TReDS Ltd. is a joint venture between Axis Bank and B2B e-commerce company mjunction Ltd.
Invoicemart, a TReDS (Trade Receivable Discounting System) platform is a digital invoice discounting marketplace by A. TREDS Ltd, a joint venture between Axis Bank Ltd and B2B e-commerce company mjunction services ltd. It is a platform which connects MSME suppliers (sellers) and their corporate buyers to multiple financiers. This platform enables discounting of invoices of the MSME sellers raised on large buyers, through a transparent bidding mechanism that ensures financing of receivables at competitive market rates.
The platform allows MSME suppliers to avail finance quickly and at competitive interest rates which in turn helps increase their working capital efficiency without impacting their relationship with buyers.