M1xchange Leads TReDS Growth With ₹1 Lakh Crore Turnover

M1xchange, India’s leading RBI-licensed Trade Receivables Discounting System (TReDS) platform, has become the first TReDS platform to cross INR 1,00,000 crore in annual throughput in a single financial year (FY25–26). The milestone was achieved in early February, with nearly two months of the financial year still remaining, reflecting the accelerating adoption of digital trade finance across the country.

This growth has been driven by large-scale adoption by MSMEs spread over 2,500 locations across India. The platform’s fully digital, intuitive interface and seamless onboarding have made receivables financing significantly easier to access, enabling MSMEs, especially those beyond metros to unlock timely liquidity at scale. As a result, TReDS volumes on M1xchange have grown rapidly, strengthening cash-flow resilience across supply chains.

Adoption has been driven by M1xchange’s focus on efficient and transparent operations for buyers, sellers, and financiers. Streamlined processes, faster transaction cycles, and competitive interest rates have contributed to its growing preference as a receivables financing platform. Financiers benefit from access to digitally authenticated invoices, while MSMEs are able to receive early payments without collateral at competitive costs. Key sectors contributing to throughput include infrastructure, manufacturing, automotive and ancillaries, electricals and electronics, textiles, energy, and PSUs—highlighting broad-based participation across India’s real economy.

Commenting on the milestone, Sundeep Mohindru, Promoter & Director, M1xchange, said “This milestone is a strong validation of the trust placed in digital trade finance by MSMEs, corporates, and financiers. Our focus has consistently been on delivering a seamless, fully digital experience that reduces friction, simplified processes, lowers the cost of finance, and improves predictability of cash flows for MSMEs. With TReDS now firmly positioned as a key pillar of India’s Digital Public Infrastructure, MSMEs from more than 2,500 locations are accessing liquidity through the platform at competitive rates. We remain committed to deepening market participation and strengthening liquidity so that MSMEs can grow with confidence.”

Since inception, M1xchange has enabled cumulative invoice discounting of over INR 2,65,000+ crore. Today, the platform connects more than 70,000 MSMEs with over 5,000 corporate buyers and 70+ banks and NBFCs, creating a robust, transparent, and scalable digital marketplace for receivables financing.

The recent Union Budget has further reinforced the role of TReDS in building CHAMPION SMEs. Policy measures such as enabling credit guarantees for invoice discounting and integrating platforms like GeM with TReDS highlight the government’s intent to institutionalize receivables financing as a mainstream working-capital solution. These initiatives are expected to expand participation, deepen liquidity, and improve access to finance for MSMEs, including those operating in Tier-2 and Tier-3 cities.

In line with this vision, M1xchange has also been the first platform to expand the scope of TReDS through its innovative Small-to-Small (S2S) financing initiative. The initiative has successfully brought smaller MSMEs into the formal credit ecosystem, enabling early payments without collateral and at competitive rates.

With sustained policy support, increasing corporate compliance, and growing participation from banks and NBFCs, M1xchange expects strong momentum in invoice discounting volumes to continue in the coming year, further strengthening MSME liquidity across India.