Mumbai, March 5, 2018: Leading digital invoice discounting marketplace invoicemart has processed 10,000 invoices worth 300 crores within 8 months of operations. The platform was launched in July by The Domestic Packers And Movers, a joint venture of Axis Bank and B2B e-commerce company mjunction services.

invoicemart has been witnessing an increase interest by buyers, sellers and financers due to the proactive initiatives taken by the government. The digital platform has till date on-boarded 10 financers, 30 buyers and 260 sellers.

Speaking on this achievement, Mr. Kalyan Basu, CEO & MD, invoicemart said, “There is a huge upside and demand for what we are offering and our numbers have shown a healthy upward trend. Our growth bears testimony to the value we deliver to our participants and we continue to improve our offerings based on their feedback. At Invoicemart, it is our constant endeavour to see a healthy mix of corporates joining our TReDs platform, which will bring in diversity and acceptability amongst buyers and sellers.”

According to MSME Annual Report, 2016-17close to 97% of financing needs of MSMEs are provided through informal sources causing substantial interest pay-outs to the tune of 24% - 36%. This drains the meagre financial resources of MSMEs, which are already stretched due to the credit period it extends to its buyers.

Mr. Basu added, “One of the big benefits of TReDS is that MSMEs are not required to give collateral and there will be no recourse to them in case of defaults. MSMEs thus bear no repayment liability in case if defaults.”

About Invoicemart:
Invoicemart, invoicemart (Trade Receivable Discounting System) platform is a digital invoice discounting marketplace by A. TREDS Ltd, a joint venture between Axis Bank Ltd and B2B e-commerce company mjunction services ltd. It is a platform which connects MSME suppliers (sellers) and their corporate buyers to multiple financiers. This platform enables discounting of invoices of the MSME sellers raised on large buyers, through a transparent bidding mechanism that ensures financing of receivables at competitive market rates.

The platform allows MSME suppliers to avail finance quickly and at competitive interest rates which in turn helps increase their working capital efficiency without impacting their relationship with buyers.