M1xchange Reports 150% Growth in Corporate Onboarding

NEW DELHI:
M1xchange, India’s leading RBI-licensed Trade Receivables Discounting System (TReDS) platform, has witnessed a 150% growth in corporate on-boarding. Attributing this growth to the government notification mandating enterprises with turnover greater than 250 Crores to register on the TReDS platform. To further accelerate this adoption, M1xchange has launched a Seamless Do-it-yourself (DIY) Digital Buyer On-boarding process, enabling large enterprises with an annual turnover of ₹250 Cr+ to register effortlessly.

With the March 31st deadline for mandatory registration on TReDS approaching as announced by the Ministry of MSME vide notification CG-DL-E-07112024-258523. This fully digital, DIY onboarding experience ensures that enterprises can complete the entire process in under 30 minutes, eliminating manual paperwork and simplifying compliance.

The newly launched DIY Digital Buyer On-boarding process enhances user experience, reduces the turnaround time, and meets the regulatory compliance for corporate buyers. By leveraging automated data fetching, real-time KYC verification, and seamless digital agreement signing, M1xchange sets new benchmarks for efficiency and ease of use. By becoming the first TReDS platform to introduce the DIY Buyer on-boarding process.

Key Features of the DIY Digital Buyer On-boarding Process:
DIY & Fully Digital: No manual paperwork—complete at your convenience
30-Minute Registration: Fast and hassle-free onboarding
Automated Data Fetching: Business details and KYC auto-verified from trusted sources
Seamless Digital MSA Signing: Sign the Master Services Agreement instantly
Secure & Compliant: Fully adheres to RBI and regulatory guidelines
With over 2000 corporates and over 48000 MSMEs onboarded, M1xchange continues to lead the way in expanding access to seamless invoice financing and working capital solutions. Commenting on the launch, Sundeep Mohindru, Promoter & Director, M1xchange, said: “At M1xchange, our vision has always been to become the most trusted business partner for our stakeholders by simplifying access to working capital through digital innovation. With the government mandating Buyer registration on TReDS, our Seamless Digital Buyer On-boarding process ensures that enterprises can comply effortlessly while unlocking the full potential of invoice financing. And this will help the enterprises to onboard themselves faster without the hassle of physical document verification. This initiative reinforces our commitment to simplifying financial inclusion for businesses across India.”

The M1xchange platform has recently surpassed ₹1,60,000 crores in total throughput is a milestone that highlights its commitment to transforming the credit landscape for MSMEs. The platform has achieved a 100% month-on-month increase in registrations, with MSMEs benefiting from financing cost reductions of 5-8% and corporates experiencing streamlined payments and enhanced liquidity.

The strong momentum for M1xchange is also a reflection of India’s growing economy, particularly in key sectors such as Infrastructure, Electricals/Electronics, Auto & Ancillaries, Textiles, Energy, and Agro. These industries account for over 60% of M1xchange’s total throughput, further validating the platform’s significance across multiple sectors. This growth story is further bolstered by its partnerships with state governments, including Andhra Pradesh, Maharashtra, Haryana, Goa, Madhya Pradesh, and Tamil Nadu. These collaborations have allowed M1xchange to offer liquidity to state MSMEs while ensuring timely payments at competitive rates, reinforcing its commitment to empowering small businesses nationwide.