New Delhi, Mar 21 (KNN) Invoicemart, the largest Trade Receivables Discounting System (TReDS) platform in India, has announced a significant achievement by enabling MSME Invoice Financing worth Rs 1 lakh crore.

This milestone positions Invoicemart as the first TReDS platform to reach this level, solidifying its position as a leading supply chain portal in the fintech sector.

Since FY23, Invoicemart has experienced remarkable growth in invoice financing volumes, with over 28,000 MSMEs from across 5,000+ postal codes actively transacting on the platform.

Currently, the platform facilitates monthly financing exceeding Rs 5000 crore, with widespread support from ecosystem players.

In alignment with RBI's directive in June 2023 to expand TReDS, Invoicemart has initiated Direct Settlement of MSME invoice payments via TReDS, streamlining the payment process for Corporates, CPSEs, PSUs, and others involved in the MSME supply chain.

Furthermore, Invoicemart has forged partnerships with various State Governments and facilitated MSME payments through TReDS at competitive rates, enhancing accessibility and affordability.

Commenting on this achievement, Prakash Sankaran, MD & CEO of Invoicemart, highlighted increased participation from Corporate and Government Buyers, as well as the banking sector, driven by Invoicemart's superior technology and customer service.

He emphasised the positive impact of government adoption of TReDS, including State Government Business, on future outlook and growth prospects.

(KNN Bureau)