M1xchange operates a digital platform for Trade Receivables Discounting System (TReDS) that enables MSMEs to discount their invoices with a network of over 60 financiers, facilitating payment within 24 hours without collateral. This service addresses the cash flow challenges faced by MSMEs by providing fast and affordable access to working capital through a streamlined, fully digital process.
Funding
$4.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
MSMEs often face challenges in maintaining sufficient cash flow due to delayed payments on invoices, hindering their ability to invest in growth and operations. Traditional financing options can be slow, require collateral, and may not be easily accessible to smaller businesses.
Solution
M1xchange provides a digital Trade Receivables Discounting System (TReDS) platform that enables MSMEs to discount their invoices and receive payments within 24 hours. The platform connects MSMEs with a network of over 60 financiers, facilitating a competitive bidding process for invoice discounting. By providing a fully digital and streamlined process, M1xchange offers fast and affordable access to working capital without the need for collateral. This helps MSMEs improve their cash flow, reduce financing costs, and enhance their relationships with corporate buyers.
Target Audience
The primary target audience includes MSMEs seeking faster access to working capital, large corporates aiming to optimize their supply chain financing, and financiers looking to meet their PSL targets through receivables factoring.
Features
- Digital invoice discounting platform connecting MSMEs with multiple financiers
- RBI-licensed TReDS platform ensuring regulatory compliance
- Discounting available for invoices raised by MSMEs to large corporates and PSUs
- Facilitates Small to Small (S2S) invoice financing between MSMEs
- Invoice discounting with payment within 24 hours
- No collateral required for discounting invoices
- Competitive bidding process among financiers to secure the lowest rates
- Mobile app available for uploading and authorizing invoices, and accepting bids
- Integration with ERP systems for seamless data exchange
- Solutions tailored for specific industries, including infrastructure, retail, chemicals, agriculture, and auto ancillaries