It was only during the Covid pandemic that TReDS saw an increased interest from corporates and MSMEs. Hit hard by Covid, MSMEs were turning to Trade Receivables Discounting System (TReDS) - the Reserve Bank of India regulated online invoice discounting platform - to cover their working capital needs.
By 31st May 2021, the three TReDS platforms (RXIL, M1xchange and Invoicemart) have managed together to discount bills worth INR 39,000 crores (US$5.3bn).