invoicemart Ltd. is a JV between Axis Bank and mjunction. It owns and operates invoicemart a digital platform which connects MSME suppliers and corporate buyers to multiple financiers. It enables sellers to sell their invoices to financiers, thus unlocking working capital quickly.
invoicemart is a Trade Receivables Discounting System (TReDS) platform set up to resolve the credit challenges faced by MSMEs. It is promoted by invoicemart Ltd. (a joint venture between Axis Bank and mjunction services), which received the license for the platform on June 29, 2017, and started operations on July 5, 2017.
TReDS is an electronic exchange that allows transparent and online selling of receivables by MSMEs through factoring.
invoicemart is a joint venture of Axis Bank and mjunction services
Axis Bank is among the oldest new-generation Indian private sector banks, having begun operations in 1994. It was jointly promoted in 1993, by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of India, UTI), Life Insurance Corporation of India (LIC), National Insurance Company Ltd, General Insurance Corporation of India (GIC), The New India Assurance Company Ltd, United India Insurance Company Ltd, and The Oriental Insurance Company Ltd. The shareholding of UTI was subsequently transferred to SUUTI, an entity established in 2003.
Founded in 2001, mjunction services ltd is India's largest Ecommerce company and also runs the world's largest eMarketplace for steel. A 50:50 venture promoted by Steel Authority of India Ltd. and Tata Steel, mjunction has ushered in efficiency, transparency and convenience to transform the way steel and coal is bought and sold in India. mjunction offers a wide range of eSelling, eSourcing, eFinance and knowledge services across industry verticals, spanning the entire Ecommerce spectrum.
mjunction has successfully revamped the steel and coal supply chain in India. The company has reduced costs, increased profitability and added value to its customers through ground-breaking innovations in operations, technology, administration and customer care.
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invoicemart Ltd.,
A3, 11th Floor, Ashar IT Park,
Road No. 16Z, Wagle Industrial Estate,
Thane (W) – 400604,
Maharashtra, India
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