Pune: TReDS platform M1lxchange plans to strengthen more than 4.7 million MSMEs in Maharashtra through trade receivable discounting system (TReDS) primarily focusing on automobile, agriculture and textile and chemical sectors. The platform intends to offer early liquidity within 24 hours through its online bidding platform to MSMEs (micro, small and medium enterprises) and offers a digital customer experience to MSMEs supported by a convenient and end-to-end digital process. “The cost of funding outside the banking system is very high for MSMEs. Pune and surrounding areas have a huge number of MSME and facilitating them liquidity against invoices from more than 51 financiers onboard is not only going to help MSMEs, but will also create huge employment and change the social equilibrium. MSME enterprises will be able to utilise TReDS for receivables discounting from their corporate buyers at market-determined interest rates using an auction method in which multiple financial institutions bid,” said a spokesperson from M1xchange.