Invoicemart successfully on-boards LDC India - Pinkcity News

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Thursday, 2 January 2020

Invoicemart successfully on-boards LDC India

Image result for axix bank and invoice mart"Image result for axix bank and invoice mart"


Mumbai 02, January 2020: 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.”


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