Kochi, April 20, 2022: Invoicemart, India’s largest Trade Receivables Discounting System (TReDS) platform achieved a new high in FY22 in enabling financial inclusion of MSMEs in the country. The platform reached a record throughput of ₹26000+ crores out of which ₹ 14600+ crores was recorded in the last financial year.
This new age invoice discounting market-place is indeed proving to be a game-changer for MSMEs and digital financing.
The platform reached several milestones during the last financial year. It is the only TReDS platform to have registered more than 1000 of India’s top Corporates/PSUs/CPSEs as “Buyers” and has enabled financing of more than 1mn MSME invoices on TReDS.
In August 2021, the platform reached a monthly throughput of ₹ 1000 crores and within the next 7 months (March 2022) it has seen the monthly throughput double to cross ₹ 2000crores in March'2022. Y-o-Y throughput more than doubled in FY22 to touch ₹ 14600+ crores
Increased registrations and participation by its large participant base (14400+) have enabled this and set the trend for FY23. Invoicemart is confident that with continued support of all its stakeholders i.e. Corporates, PSUs, Banks, NBFC Factors and MSME vendors it will lead the success of TReDS in the country.
The platform is in process of finalizing agreements with various state government and departments who are keen to help their MSMEs get benefits from this digital market-place.
Several recent regulatory changes are expected to contribute to growth in TReDS. RBI Guidelines enabling NBFCs to register as Factors will show results in FY23 and significantly increase liquidity on the platform. Wef 1st April 2022, the platform has also started filing Assignment of Receivables (AOR) on behalf of all Financiers through CERSAI. This has further smoothened the operational process for all Financiers who are active participants on the platform.
The platform has now registered MSMEs in 700+ locations and managed to reach 3200+ pin codes. This is the fastest market penetration among all fintechs in the country. Webinars organized by Corporates, Financiers, Regulators, Trade Associations, State Industrial Bodies and Chambers of Commerce continue to help build awareness of TReDS amongst MSMEs.
Prakash Sankaran, MD & CEO, A. TREDS Ltd said “This has been a year where we have seen every aspect grow. No of participants, no of invoices financed, throughput volumes all while providing fine interest rates to MSMEs and Buyers.
We witnessed enthusiastic participation by Corporates and PSUs alike unlike previous years as TReDS is now unlocking value for all participants”.
Sankaran added "We are enthused by the response of multiple state governments who have expressed their desire to leverage on Invoicemart's expertise in TReDS operations and superior participant coverage.
With various digital enablers and partnerships, we are expecting FY23 to catapult us as a leader in the fintech space for MSMEs while unlocking value for Financiers as well as Corporate and Government buyers”.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
New Delhi, October 3, India- Philips India announces an exciting co
 (1)_1713611592.jpg)
Through this exciting initiative, the brand aims to emerge as the go-to purveyor of authentic Chinese in India
New D
Jaipur, 18 April: Students of Jaipur have recently shown their remarkable achievement in the UPSC Civil Services Examination-
· Technopark-based Lifology holds conversation on IER 2024
Thiru
Business / 20-04-2024
MasterChow taps renowned Chef Ranveer Brar as its Brand Ambassador to champion Asli ChineseSports / 20-04-2024
Aditya Mehta Foundation's para cyclists Jyoti Gaderiya & Arshad Shaik achieve top world rankings in the latest Track Para Rankings, bringing pride to India!Business / 18-04-2024
STUDENTS OF JAIPUR'S JAYSHREE PERIWAL HIGH SCHOOL BRING LAURELS TO SCHOOL IN UPSCBusiness / 18-04-2024
India Employment Report pitches for policy to promote jobsBusiness / 18-04-2024
The EMAK Festoon Silent Heroes Awards-24 Concludes at Le Méridien, KochiPelikken © Copyright 2022, All Rights Reserved
