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Digital invoice discounting marketplace, Invoicemart on Wednesday said it crossed ₹2,500 crore in business volume on March 19, 2019.
According to A. TReDS Ltd, which runs the marketplace, Invoicemart has over 100 corporate buyers, 23 financiers such as State Bank of India, Bank of Baroda, DBS Bank, Lakshmi Vilas Bank, and on-boarded over 1,700 participants.
TReDS (Trade Receivables Discounting System) is an institutional setup for facilitating the financing of trade receivables of MSMEs from corporate and other buyers, including Government Departments and Public Sector Undertakings (PSUs), through multiple financiers.
Kalyan Basu, CEO & MD, A. TReDS Ltd. 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.”
A. TReDS Ltd is a joint venture between Axis Bank Ltd and B2B e-commerce company mjunction services ltd.
Invoicemart in a statement said, 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, it added.
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