As invoice discounting gains credence, Amazon-backed M1xchange aims to double its business
A small vendor from Gujarat supplying chemicals to a large petroleum corporation listed its invoice worth Rs 1.5 lakh on the M1xchange discounting platform. After the corporation approved the invoice, the vendor received multiple bids from banks within minutes.
M1xchange Reports 150% Growth in Corporate Onboarding, Launches Seamless DIY Digital Buyer On-boarding for Enterprises
M1xchange, India’s leading RBI-licensed Trade Receivables Discounting System (TReDS) platform, has witnessed a 150% growth in corporate on-boarding. Attributing this growth to the government notification mandating enterprises with turnover greater than 250 Crores to register on the TReDS platform. To further accelerate this adoption, M1xchange has launched a Seamless Do-it-yourself (DIY) Digital Buyer On-boarding process, enabling large enterprises with an annual turnover of ₹250 Cr+ to register effortlessly.