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Axis Bank-backed TreDs platform, Invoicemart, has crossed $1 billion in business volume.
“Invoicemart became the first TReDS (Trade Receivable Discounting System) platform to cross $1 billion in business volume as on March 4, 2020,” the lender said in a statement on Thursday.
Launched in 2017, the platform has over 4,522 MSME sellers, 603 buyers, 37 financiers, and has processed discounting of 4.80 lakh MSME invoices.
“It is gratifying that even with the ongoing Covid-19 crisis, Invoicemart has continued to provide MSMEs access to funds, thus emerging as the largest TReDS platform with volumes of ₹490.51 crore and 23,917 invoices discounted in March 2020,” said Prakash Sankaran, Managing Director and CEO, A. TReDS Ltd.
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