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How M1xchange is revolutionising MSME financing in India
Economic Times
ยท
1m ago
Medial
M1xchange has revolutionized MSME financing in India by offering a digital Trade Receivables Discounting System (TReDS). As an RBI-approved marketplace, it allows MSMEs to convert trade receivables into immediate working capital, significantly reducing cashflow issues caused by delayed payments. The platform has discounted invoices worth over Rs 170,000 crore and onboarded 65 banks and 50,000 MSMEs, offering lower discount rates and efficient processing times. This transformation supports financial inclusion and enhances MSME creditworthiness.
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Jindal Stainless invests $18 Mn in Amazon-backed M1xchange
Entrackr
ยท
4m ago
Medial
Jindal Stainless invests $18 Mn in Amazon-backed M1xchange Following this investment, M1xchange will provide working capital access to MSMEs and corporates, contributing to the growth of the digital supply chain financing ecosystem in India. Jindal Stainless, along with its wholly-owned subsidiary Jindal Stainless Steelway Limited, has acquired a 9.62% stake in M1xchange, a platform that facilitates digital invoicing and discounting for MSMEs, corporates, and financiers. The deal included primary capital and a secondary purchase of shares from existing shareholders, the company said in a press release. According to Jindal Stainless, the cost of acquiring a 5.03% stake is approximately Rs 102.7 crore ($12 million). The total cost for acquiring a 9.62% stake, including the stake acquired by JSSL, is around Rs 154 crore ($18 million). The partnership will help Jindal Stainless digitize financing operations, streamline payment processes, accelerate digitalization efforts, and reduce the working capital cycle. Founded in 2017, M1xchange is a digital invoicing and discounting platform that ensures working capital requirements are met without the need for extensive bank processes. The company generates revenue through professional fees for these services. Since its inception, M1xchange claims to have onboarded more than 65 banks, 2,000 corporates, and over 48,000 MSMEs and has facilitated the discounting of invoices worth more than Rs 160,000 crore. M1xchange has raised over $19 million to date from investors including SIDBI Venture, Amazon, IndiaMART, BEENEXT, and Mayfield. For the fiscal year ended in March 2024, M1xchange reported a 91% jump in its operating revenue to Rs 56.47 crore against Rs 29.52 crore in FY23. During the period, it managed to control its losses by nearly 50% to Rs 3.98 crore.
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Amazon-backed M1xchange raises $10 Mn from Filter Capital
Entrackr
ยท
2m ago
Medial
M1xchange has raised Rs 84 crore ($10 million) from Filter Capital through a secondary transaction to support its digital supply chain finance operations targeting micro, small, and medium enterprises (MSMEs). The latest funding round comes two months after Jindal Stainless and its subsidiary, Jindal Stainless Steelway Limited, acquired a 9.62% stake in M1xchange. The firm has raised over $47 million to date from investors including SIDBI Venture, Amazon, IndiaMART, BEENEXT, and Mayfield. Founded by Sundeep Mohindru and Vivek Misra, M1xchange operates as a Trade Receivables Discounting System (TReDS) platform, facilitating invoice financing of approximately Rs 10,000 crore ($1.2 billion) monthly for MSMEs, corporates, and financiers. Since its inception in April 2017, the platform claims to have facilitated over Rs 1.75 lakh crore ($20 billion) in invoice discounting and onboarded 50,000 MSMEs, 2,800 corporates, and 66 financial institutions, including banks and NBFCs. The firm reported a 100% year-on-year growth in transaction volumes. For the fiscal year ended in March 2024, M1xchange reported a 91% jump in its operating revenue to Rs 56.47 crore against Rs 29.52 crore in FY23. During the period, it managed to control its losses by nearly 50% to Rs 3.98 crore. Filter Capital, a growth investment firm, focuses on technology-driven businesses in India, including fintech, SaaS, and logistics. Its portfolio includes Capillary Technologies, Chalo Mobility, LoadShare Networks, and THB.
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Digital lending startup LoanTap raises pre-Series C round
VCCircle
ยท
2m ago
Medial
Digital lending startup LoanTap, supported by venture capital firms like 3one4 Capital, has secured Rs 54 crore ($6.2 million) in a pre-Series C equity funding round. The Pune-based company aims to expand its supply chain financing for small retailers. CEO Satyam Kumar emphasizes leveraging the momentum in India's MSME sector to enhance invoice financing and empower MSMEs. Founded in 2016, LoanTap offers personal and MSME loans, reporting improved financial performance in recent years.
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LeapFrog leads $48 mn Series B funding in Electronica Finance
VCCircle
ยท
1y ago
Medial
Electronica Finance, a provider of loans to micro, small, and medium enterprises (MSME), has raised $48 million in a Series B funding round. The equity round was led by LeapFrog Investments, with participation from Aavishkaar Capital. The funds will be used to scale up MSME credit, rooftop solar financing, and micro loan-against-property (LAP) businesses. Electronica Finance currently has Rs 4,000 crore in assets under management (AUM) and operates 215 branches across 15 states in India.
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TReDS platform RXIL crosses Rs 2 lakh cr MSME invoice financing milestone
Economic Times
ยท
1m ago
Medial
Receivables Exchange of India Ltd (RXIL), a platform under TReDS, has achieved over Rs 2 lakh crore in MSME invoice financing. A joint venture led by SIDBI and NSE, RXIL facilitated Rs 80,500 crore worth of financing in FY25, registering over 44,000 MSMEs. Supported by government and regulatory bodies, RXIL has enhanced financial inclusion and supply chain finance efficiency, allowing MSMEs access to working capital through discounting over 88.5 lakh invoices.
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How tapping trade credit will enhance financial fluidity in B2B operations
Inc42
ยท
1y ago
Medial
Trade credit is driving B2B transactions for sustainable growth in India's MSME sector. It highlights the benefits and challenges associated with trade credit and suggests proactive solutions such as knowledge empowerment programs, regulatory reforms, embracing technological innovation, collaborative platforms, and financial literacy programs to maximize the potential of trade credit. The strategic application of trade financing is crucial for the economic stability and adaptability of MSMEs in India.
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SBI plans to enhance threshold limit under instant loan scheme for MSME sector
YourStory
ยท
9m ago
Medial
The State Bank of India (SBI) plans to increase the threshold for its instant loan scheme for the MSME sector. The scheme, called 'MSME Sahaj - End to End Digital Invoice Financing', aims to provide quick and easy credit to small businesses. Through this scheme, borrowers can apply for a loan, complete documentation, and receive the sanctioned amount within 15 minutes, with minimal manual intervention. SBI Chairman C S Setty stated that the bank aims to simplify MSME credit and enable more businesses to enter the formal borrowing system by reducing collateral requirements. Additionally, SBI plans to open 600 branches across the country this fiscal year.
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Aditya Birla Housing taps offshore investor for fresh capital
VCCircle
ยท
6m ago
Medial
Aditya Birla Housing is securing $100 million in fresh capital from an offshore investor, the International Finance Corporation (IFC). This funding aims to enhance lending to retail buyers of affordable housing and support financing for micro, small, and medium enterprises (MSMEs), particularly benefiting women borrowers. This initiative aligns with Aditya Birla Housing's strategy to expand its reach in affordable housing and MSME sectors, bolstering economic growth and inclusivity in financing.
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Dugar Finance raises $3 million from Symbioticsโ Green Basket Bond to boost EV, solar loans
Economic Times
ยท
1m ago
Medial
Dugar Finance & Investments Limited, an NBFC specializing in solar and MSME financing, secured $3 million from the Green Basket Bond by Symbiotics Investments. This funding will boost Dugar's expansion in electric vehicle and rooftop solar financing, focusing on residential consumers, MSMEs, and housing societies in smaller cities. The initiative highlights Dugar's commitment to sustainable finance and has already facilitated significant carbon emission reductions and energy savings.
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SEBI puts SK Finance's Rs 2,200 Cr IPO in abeyance
YourStory
ยท
1y ago
Medial
The Securities and Exchange Board of India (SEBI) has put on hold the initial public offering (IPO) of non-bank lender SK Finance, which specializes in vehicle finance and business loans. SEBI did not provide a reason for the decision. The IPO consisted of a fresh issue of equity shares worth INR 500 crore ($67.5 million) and an offer for sale (OFS) of up to INR 1,700 crore by promoters and investor shareholders. SK Finance planned to utilize the proceeds for onward lending and general corporate purposes. The company operates in the vehicle financing and Micro, Small and Medium Enterprises (MSME) financing segments.
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