Invoicemart Trade Receivables Discounting System (TReDS) platform Invoicemart reached a record throughput of Rs 26000+ crores out of which Rs 14600+ crores was recorded in the last financial year.
The platform enabled the financing of more than 1mn MSME invoices on TReDS.
In August 2021, the platform reached a monthly throughput of Rs 1000 crores and within the next 7 months (March 2022) it has seen the monthly throughput double to cross Rs 2000crores in March'2022. Y-o-Y throughput more than doubled in FY22 to touch Rs 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 governments and departments who are keen to help their MSMEs get benefits from this digital marketplace.
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 fintech companies 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”.
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