Mumbai, Jan 31 (KNN) With the participation of more than 1300 Micro, Small and Medium Enterprises (MSMEs) sellers and 100 buyers, the TDeRS platform Invoicemart has processed the discounting of 1.4 lakh invoices making it the first Trade Receivables Discounting System (TReDs) exchange to cross Rs 2,000 crores in business volume.

Invoicemart have on-boarded almost 1500 participants, which shows the growing traction of TReDS model among MSMEs.

CEO and Managing Director of A. TReDS Ltd. (Invoicemart), Kalyan Basu 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, this trend may result in our achieving the initial estimate of Rs 11,000-crores by March 2020.”

“While the various data points have shown a shrinking in credit availability to MSMEs, TReDS has bucked the trend and in turn has become an enabler in providing working capital finance to the MSMEs. The time has come for factoring to take off in India and TReDS is expected to become a major source of fund flow to MSMEs in the near future. ” added Basu.

Notably, Invoicemart had achieved the previous milestone of Rs. 1000 crores in September 2018 and the business volumes have doubled within 4 months to Rs. 2000 crores.

This is a healthy indication towards the adoption of TReDs by the corporates as well as OMCs as two out of three have already joined the platform.

Invoicemart, owned and operated by A.TReDs Ltd. is a joint venture between Axis Bank and B2B e-commerce company mjunction that launched in 2017.

TReDS is an institutional setup for flow of finance to MSMEs through multiple financiers at a competitive rate.