M1xchange, a Trade Receivables Discounting System (TReDS) platform, has crossed Rs 1,00,000 crore in annual throughput in FY25–26.
The company attributes this growth to large-scale adoption by MSMEs spread over 2,500 locations across India.
Sundeep Mohindru, Promoter & Director, M1xchange, said in a statement, “This milestone is a strong validation of the trust placed in digital trade finance by MSMEs, corporates, and financiers. Our focus has consistently been on delivering a seamless, fully digital experience that reduces friction, simplified processes, lowers the cost of finance, and improves predictability of cash flows for MSMEs. With TReDS now firmly positioned as a key pillar of India’s Digital Public Infrastructure, MSMEs from more than 2,500 locations are accessing liquidity through the platform at competitive rates. We remain committed to deepening market participation and strengthening liquidity so that MSMEs can grow with confidence.”
Since inception, M1xchange has enabled cumulative invoice discounting of over Rs 2,65,000+ crore. Today, the platform connects more than 70,000 MSMEs with over 5,000 corporate buyers and 70+ banks and NBFCs.
The recent Union Budget has further reinforced the role of TReDS in building CHAMPION SMEs. Policy measures such as enabling credit guarantees for invoice discounting and integrating platforms like GeM with TReDS highlight the government’s intent to institutionalise receivables financing as a mainstream working-capital solution. These initiatives are expected to expand participation, deepen liquidity, and improve access to finance for MSMEs, including those operating in Tier-2 and Tier-3 cities.