![](https://www.newsexperts.in/wp-content/uploads/2022/04/invoicemart.jpg)
![](https://www.newsexperts.in/wp-content/uploads/2022/04/invoicemart.jpg)
KOCHI:
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”.
more recommended stories
KSUM’s July 20 Beyond Tomorrow Conclave to Drive InnovationKOCHI:Kerala Startup Mission (KSUM) is organising.
Muthoot Risk Insurance & Broking Services (MRIBS) Opens New Head Office in ThiruvananthapuramTHIRUVANANTHAPURAM:Muthoot Risk Insurance & Broking Services.
Great Mid-Size Workplaces: H&R Block at Technopark Ranked First in IndiaTHIRUVANANTHAPURAM:Global consumer tax services provider H&R.
Triassic Solutions Forms Joint Venture with Sequoia Applied TechnologiesTHIRUVANANTHAPURAM:Kerala based software company Triassic Solutions.
SBI Unveils “Amrit Vrishti” Term Deposit SchemeMUMBAI:State Bank of India (SBI), country’s.
Ageas Federal Life Insurance Introduces ‘Golden Years Pension Plan’MUMBAI:Ageas Federal Life Insurance, one of.
UPI Goes Live at Galeries Lafayette’s Flagship Store in ParisKOCHI:NPCI International Payments Limited (NIPL), in.
India at the Forefront of Economic TransformationNEW DELHI:Marcellus Investment Managers, renowned for.
Women Entrepreneurship Platform and TransUnion CIBIL Partner to Launch SEHER ProgramKOCHI:SEHER, a credit education program launched.
A Suzuki Initiative, Launches Rs 340 Crore Fund to Empower Bharat’s EntrepreneursGIFT CITY:Next Bharat Ventures IFSC Private.