New banks have come on-board the invoice discounting platform Invoicemart. The recent addition, Allahabad Bank, Standard Chartered Bank, Vijaya Bank and Yes Bank, takes the total number of financiers on the platform to 10.
Invoicemart, a TReDS (trade receivable discounting system) platform is a digital invoice discounting marketplace promoted 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.
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.
