Invoicemart, an Axis Bank-backed TReDS (Trade Receivable Discounting System) platform and one of India’s leading digital invoice discounting marketplaces, has successfully on-boarded Louis Dreyfus Company India Pvt Ltd (LDC India), a global merchant and processor of agricultural goods. The on-boarding will allow the MSME (Micro, Small and Medium Enterprises) suppliers of LDC India to get their invoices paid within 48hrs after getting uploaded and approved on the TReDS platform.
LDC India is the first global commodities
merchant to partner with Invoicemart to promote MSMEs. This partnership is in
alignment to the Government’s mandate for all companies with a turnover of more
than Rs 500 crores, to be on-boarded onto the TReDS platform.
The TReDS platform enables
discounting of invoices of MSME sellers drawn on large buyers through a process
of competitive bidding. This process of price discovery on the platform leads
to immediate payment of trade receivables to MSMEs at competitive market rates.
Since its establishment in India
in 1997, LDC India has played an active role in the country’s agricultural
trade. Its activities in India have grown to include three business lines – Grains
& Oilseeds, Coffee and Cotton – supported by processing and logistical
facilities, commercial offices and a shared service center across 15 locations
in 11 states.
Speaking at the partnership
signing ceremony between Invoicemart and LDC today, Mr. Vipin Gupta, CEO, LDC
India commented, “LDC India is pleased to be the first global commodities
merchant to join the TReDS platform, Invoicemart. With our significant market
presence, it is important for us to contribute to the development of the MSME
vendors in the country, as they not only provide us with cost effective
products but also generate employment in the process. This partnership is fully
aligned with the government’s initiative to provide liquidity to the MSME
sector and promote financial inclusion in the agri-sector.”
Mr. Prakash Sankaran, MD &
CEO, A. TReDS Ltd added, “We are privileged to have LDC India, a global
commodities merchant, as a buyer on Invoicemart and also the first such company
to join the TReDS platform. LDC India has a large MSME supplier base and we
look forward to supporting them in managing their working capital requirements
effectively. I am also happy to state
that the platform is growing at a rapid
pace and we will continue to invest in financial technology and innovation to
enhance our capabilities and bring value to participants on our platform.
Invoicemart continues to maintain its leadership position amongst the TReDS
exchanges with over 4000 participants and over Rs.5500 crores worth of invoices
discounted on the platform.”