Online invoice discounting and factoring solutions provider M1xchange surpasses Rs 1,00,000 crore in throughput value.
M1xhange, a TReDS (trade receivables discounting system) platform has expanded the scope of TReDS through Small-to-Small (S2S) financing. This initiative effectively bridges the credit gap and integrates tier 2 and tier 3 MSMEs into the formal credit ecosystem, significantly contributing to their growth and sustainability.
“From the very beginning, our vision was to transform access to working capital through digitisation and innovation,” said Sundeep Mohindru, Promoter & Director, M1xchange. “By facilitating credit through competitive interest rates, prompt disbursals, and streamlined processes, we are creating immense opportunities to boost MSME growth in India,” said Mohindru.
The growth in transaction volume is attributed to the increasing acceptance and understanding of TReDS among businesses, said the company in its release. “Showcasing a consistent 100% year-on-year growth, M1xchange discounted invoices worth INR 43,000 crores in FY24 compared to INR 23,100 crores in the previous fiscal,” said the company.
The development comes at a time when the company has also signed a Memorandum of Understanding (MoU) with multiple state governments including Maharashtra, Haryana, Goa, Madhya Pradesh and Tamil Nadu to offer liquidity to the state’s MSMEs (Micro, Small and Medium Enterprises) while ensuring timely payments at a competitive rate.
M1xchange facilitates the financing of trade receivables of MSMEs from corporate buyers through ‘factoring’ or ‘invoice discounting’ by financiers (Banks and NBFC).
