Invoicemart, the Axis Bank-backed digital invoice discounting TreDS platform, has registered a record discounting of ₹10,000 crore worth of invoices.
In a statement on Monday, the company said it has funded more than 5,80,000 invoices of MSME vendorson the platform.
“Supported by their strong tie-up with more than 760 anchor corporates, CPSE, PSUs, banks and NBFC factors, Invoicemart has already guided over 6,900 MSME vendors to register on TReDS and get their bills discounted,” it said.
Prakash Sankaran, Managing Director and CEO, A.TReDS, said: “We are seeing increased participation by PSUs and corporates and MSMEs assisted by strong support from the banks and NBFC factors.”
He further said Invoicemart is working actively with alliances in the fintech and supply chain space to further improve value for all participants on the platform.