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M1xchange was launched by the parent company Mynd Solutions in 2017 to set up and operate the Trade Receivables Discounting System (TReDS) Portal under the Payment and Settlement System (PSS) Act 2007 for the benefit of MSMEs. Mynd Solutions is licensed by the Reserve Bank of India (RBI) to establish TReDS, an electronic platform and institutional mechanism, to facilitate the financing of trade receivables of MSMEs from corporate buyers through multiple financiers.
M1xchange is one of the TReDS platforms that connects MSMEs, corporates, banks, and non-banking finance companies (NBFCs) through a transparent mechanism.
M1xchange has discounted 25,00,000+ invoices, amounting to more than Rs 1,00,000 crore, since the inception of the platform, facilitating ease of transactions for more than 32,000 registered MSME vendors located across 1800+ cities.
Looking to discount receivables at a low cost without collateral or recourse? Choose invoice discounting through the TReDS platform!
Get immediate financing through TReDS to pay your MSMEs and show compliance with MSMED Act.
TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of Micro, Small, and Medium Enterprises (MSMEs) through multiple financiers. These receivables can be due from large corporates and other buyers, including Government departments and Public Sector Undertakings (PSUs). TReDS is an interesting example of how digitization is helping MSMEs get access to working capital by auctioning their receivables. Moreover, TReDS is a post-shipment financing option for the MSME sector because they get their receivables within 24 hours of the bills being accepted by the buyer.
The Government e-Marketplace (GeM), launched on August 9, 2016, by the Ministry of Commerce and Industry, Government of India, is an online platform for public procurement of everyday use goods & services required by various Government departments/organizations/PSUs in India.
The initiative was undertaken to create an open and transparent procurement platform. GeM aims to enhance transparency, efficiency, and speed in public procurement. It provides the tools of e-bidding, reverses e-auction, and demand aggregation to facilitate government users to achieve the best value for their money.
Register on M1xchange to unlock funds against unpaid invoices