Invoicemart and Lakshmi Vilas Bank join hands to facilitate MSME financing

Invoicemart and Lakshmi Vilas Bank join hands to facilitate MSME financing

 Invoicemart and Lakshmi Vilas Bank join hands to facilitate MSME financing

Chennai, July 30, 2018:

Private sector Lakshmi Vilas Bankhas joined hands with Invoicemart, India’s leading digital invoice discounting marketplace by A. TReDS Ltd, a joint venture between Axis Bank and mjunction. A number of scheduled commercial banks and public sector banks have registered themselves on the Trade Receivables Electronic Discounting System (TReDS) platform which is paving the way towards MSME inclusion through a transparent bidding mechanism that ensures faster financing at competitive market rates.

Speaking on this partnership, Mr. Kalyan Basu, MD & CEO, A. TReDS Ltd said,

“Invoicemart isprivileged to tie up with Lakshmi Vilas Bank and we look forward to their constant support in helping MSMEs, who are the back bone of Indian Economy. We are investing in financial technology and innovation to facilitate mass formalization of the MSME sector in our endeavor to bridge the gap which has prevented institutional lenders from reaching out to small businesses.

Mr. P. Mukherjee, MD & CEO Lakshmi Vilas Bank said,

“We at LVB are delighted to be associated with Invoicemart in the TReDS space as it will provide MSMEs with speedier and timely finance. The TReDS platform is indeed a path breaking initiative by RBI towards providing efficient working capital financing for MSME suppliers. This platform has great potential for making supply chain financing more competitive.” Invoicemart recently completed one year and has successfully processed over 30,000 invoices worth 750 crores. Currently, the platform has 47 buyers (corporates) and 550 sellers (MSMEs) with a portfolio which includes retail, real estate, healthcare and power Mr. Basu added, “TReDShas proved to be a huge enabler for MSMEs by providing transparency in financing withbest possible rates.”
Photo caption:

Mr. P. Mukherjee, MD & CEO Lakshmi Vilas Bank and Mr. Kalyan Basu with their respective teams
 
About Invoicemart:

Invoicemart, a TReDS (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.