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The Trade Receivables electronic Discounting, meant for easy access to credit for small bushinesses, has seen increased usage in the past year. On a monthly basis, invoices financed through TReDS nearly doubled from a year ago to about Rs 11,000 crore. ....
IndiaMART & BEENEXT, the existing shareholders have invested Rs. 38 crores approximately to acquire an additional stake of 3.4% & 1.99% respectively in India s largest TReDS platform Mynd Solution s M1xchange. ....
New Delhi [India], August 4 (ANI/PNN): M1xchange, India s first and leading TReDS platform, in partnership with YES BANK and RBL Bank, announced today that it had started testing of Small-Small Factoring product under the Reserve Bank of India s (RBI s) third cohort of the regulatory sandbox ....
We ll soon meet in your inbox. Please wait. M1xchange had earlier raised $4.5 million from Beenext and Mayfield in December last year. The firm also counts SIDBI Ventures among its investors. “With this new funding, we plan to further expand our reach beyond the 352 cities from where MSMEs currently enjoy the benefit of discounted invoices,” M1xchange founder Sundeep Mohindru said in a statement. Started in 2017 under the TReDS (Trade Receivables Discounting System) licence issued by the Reserve Bank of India (RBI), M1xchange aims to solve the payments challenge for MSMEs by connecting them with banks and financiers through the marketplace exchange. ....