A majority of industries and businesses are now inching back to pre-COVID 19 levels. MSMEs have also started charting their path for recovery. The lockdown has increased technological literacy and given a push to digital adoption among the MSMEs. Invoicemart, an Axis Bank-backed digital invoice discounting TReDS (Trade Receivable Discounting System) platform is leading the way with a record discounting of Rs. 10,000-cr worth of invoices. They have funded more than 5,80,000 invoices of MSME vendors, on 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 6900 MSME vendors to register on TReDS and get their bills discounted. Apart from creating value for all the participants, the platform is actively working towards creating awareness for TReDS. Followed by the concerted efforts of the MSME Ministry and Regulators to help MSMEs, there has been an observable interest among vendors, to explore newer and more effective options of converting their receivables quickly into cash. Invoicemart has helped in price discovery for MSMEs across 486 cities and towns in India who are now able to get their bills discounted from 39 Financiers (Banks and NBFC Factors) without necessarily having a direct lending relationship with them.
