What Invoicemart does

Invoicemart, operated by A.TReDS Ltd., is an RBI-licensed Trade Receivables Discounting System (TReDS) platform that facilitates the discounting of invoices for micro, small, and medium enterprises (MSMEs) selling to corporate and government buyers. It connects three sides of the market — MSMEs (sellers), corporate/CPSE buyers, and financiers (primarily banks and NBFCs) — into a single electronic exchange where invoices are uploaded by buyers or sellers, accepted by the buyer, and bid on by financiers to provide early payment to the MSME supplier. The platform was established as a 50:50 joint venture between Axis Bank and mjunction services and has been operational since receiving its RBI authorization in June 2017. Headquartered in Thane, India, it operates with 101–250 employees and is one of three TReDS platforms — alongside RXIL and M1xchange — that together control roughly 90% of platform transactions in India.

The platform's revenue model is transaction-based, charging platform or processing fees (typically a low single-digit basis-point to fractional percentage of financed value) to participants, primarily financiers and/or buyers, on each successfully discounted invoice. Its go-to-market leverages the distribution strengths of its parents: Axis Bank provides financier-side reach and corporate banking relationships, while mjunction brings enterprise procurement-side credibility inherited from its Tata Steel lineage. The product surface spans standard invoice discounting, reverse factoring (where buyers initiate financing on behalf of their suppliers), and is being extended via planned integration with the Government e-Marketplace (GeM) for public procurement flows.

Invoicemart's near-term operating environment is being reshaped by three regulatory developments: the RBI's 2026 TReDS Master Directions (easing operational norms and expanding eligible transactions), the Union Budget 2026 mandate requiring all Central Public Sector Enterprises to pay vendors via TReDS, and the extension of NCGTC credit guarantees to TReDS exposures. The company has additionally entered state-level partnerships (West Bengal, Gujarat, Himachal Pradesh) to onboard state entities and MSMEs, and has articulated a strategic target of one million onboarded MSMEs by 2030.

Name

Invoicemart

Legal name

A.TReDS Ltd.

Website

https://invoicemart.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Invoicemart is an RBI-licensed TReDS platform, operated as a 50:50 joint venture between Axis Bank and mjunction services, that enables MSMEs to discount invoices from corporate and government buyers by connecting them with bank and NBFC financiers on a three-sided electronic exchange.

Ownership category

akta.pro rank

Product category

Trade Receivables Discounting / Supply Chain Finance Platform

NAICS

Sales Financing (52222), Miscellaneous Intermediation (523910)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Invoice Trading / Receivables Marketplace (P2P) (FSAKAHAH)

akta.pro secondary industry

Receivables Management (Collections, Lockbox, EIPP) (FSABAIAA)

Keywords

• Trade receivables discounting
• Invoice financing platform
• MSME working capital
• Supply chain finance
• Reverse factoring

Headquarters

HQ city

Thane

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction/Platform Fees: Invoicemart levies transaction charges borne by the party which bears the cost of funds as well as the financier. The platform charges a percentage of the transaction value as platform charges, in addition to 18% GST. The platform may also charge separate service fees to registered clients for using services to effect transactions.
2. Cost of Funds (Interest Spread): Financiers bid on factoring units by quoting the rate of cost of funds. The spread between the rate charged to the buyer/seller and the cost to the financier represents a revenue stream. Depending on arrangement, either the buyer or seller bears the cost of funds. The platform facilitates competitive price discovery across multiple financiers.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Invoicemart (A.TReDS Ltd.) operates a Trade Receivables Discounting System (TReDS) platform, an RBI-regulated digital marketplace that connects MSME suppliers, corporate buyers, and multiple institutional financiers. It enables sellers to discount their trade receivables (via factoring or reverse factoring) through competitive auction-based bidding, unlocking working capital within 24 hours without collateral, and settling funds on a T+1 basis through NPCI's NACH infrastructure.

Product overview

Invoicemart is a TReDS (Trade Receivables Discounting System) platform operated by A.TReDS Ltd., a joint venture between Axis Bank and mjunction services. The platform functions as a digital marketplace connecting MSME suppliers, corporate buyers, and institutional financiers. Core offerings include Factoring (seller-initiated invoice discounting) and Reverse Factoring (buyer-initiated invoice discounting), enabling MSMEs to unlock working capital against approved receivables through competitive bidding by multiple financiers. The platform operates under RBI regulation via the Payment and Settlement Systems Act 2007, provides ERP integration via open API, and is accessible via web and mobile applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Invoicemart TReDS Platform (A.TReDS Platform) Digital TReDS platform connecting MSME suppliers, corporate buyers, and multiple institutional financiers, enabling sellers to discount invoices and unlock working capital quickly through competitive bidding by financiers. Licensed by RBI under the Payment and Settlement Systems Act, 2007.
• Factoring (Seller-Initiated Invoice Discounting) Seller-initiated invoice financing service where the MSME seller uploads an approved invoice, creates a factoring unit, receives competitive bids from multiple financiers, and gets paid within 24 hours of bid acceptance.
• Reverse Factoring (Buyer-Initiated Invoice Discounting) Buyer-initiated invoice financing service where the corporate buyer uploads an invoice on behalf of the MSME seller, selects from financier bids, and enables the seller to receive funds within 24 hours. Strengthens buyer-seller supply chain relationships and streamlines vendor payment cycles.

Quantifiable outcome

• Payment within 24 hours of invoice acceptance
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature8 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• West Bengal Government (WBSIDCL, TANTUJA, BBMC, MANJUSHA)coreStrategic or Co-development PartnerThe Government of West Bengal has approved adoption of the Invoicemart TReDS platform to enhance timely payments and liquidity for MSMEs supplying goods and services to West Bengal State departments and PSUs. Onboarded state PSUs include West Bengal Small Industries Development Corporation (WBSIDCL), West Bengal State Handloom Weavers' Co-operative Society (TANTUJA), Biswa Bangla Marketing Corporation (BBMC), and West Bengal Handicrafts Development Corporation (MANJUSHA). The initiative aims to digitise receivable financing and accelerate working capital flows across the state.
• Himachal Pradesh GovernmentminorStrategic or Co-development PartnerHimachal Pradesh has boosted finance access for MSMEs through agreements with Invoice Mart (Invoicemart) and RXIL for the TReDS platform under the RAMP Programme.
• Government of GujaratminorStrategic or Co-development PartnerNational Head of Government Coverage Nikita Bose and Regional Head Sanjeev Shriwas signed an MoU on behalf of Invoicemart with the Government of Gujarat.
• ICAI (Institute of Chartered Accountants of India)minorStrategic or Co-development PartnerInvoicemart partnered with ICAI for International MSME Day 2025, setting up TReDS Helpdesks at various locations where ARMs interacted with MSMEs and CAs to guide them on the Invoicemart-TReDS platform.
• GeM (Government e-Marketplace)coreTechnology or IntegrationThe Indian government plans to integrate GeM with TReDS platforms to enable MSMEs to move seamlessly from procurement on GeM to invoice financing. This integration aims to create a unified digital payment infrastructure linking government procurement to working capital access.
• NCGTC (National Credit Guarantee Trustee Company Limited)coreStrategic or Co-development PartnerRBI's 2026 Master Directions formally permit financiers to avail guarantees from NCGTC against factoring units on TReDS platforms. This enables credit guarantee cover for TReDS exposures, addressing financier risk concerns for lower-rated buyers and expanding MSME financing access.
• NPCI (National Payments Corporation of India)coreTechnology or IntegrationInvoicemart uses NPCI infrastructure for settlement — debiting financier's account and crediting MSME seller's account on T+1 day through NPCI. The platform also obtains NACH mandates from buyers and financiers for automatic settlement.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Mintifi: Fintech lender offering supply-chain and receivables-backed financing to MSMEs and mid-market suppliers. Adjacent to TReDS but uses its own bilateral rather than marketplace rails.
• FinFactor: Supply-chain finance and TReDS-adjacent platform offering receivables discounting solutions to MSMEs and corporate buyers. Niche competitor in invoice financing with overlap on buyer/financier personas.
• Cashflo: B2B payments and early-payment / dynamic discounting platform for corporate buyers and their suppliers. Competes with Invoicemart on supply-chain financing outcomes through a different buyer-led mechanism.

Broad incumbents

• Lendingkart: Tech-enabled MSME working-capital lender. Overlaps with Invoicemart's MSME financing use case through a different delivery model (direct lending vs. regulated marketplace).
• KredX: Larger receivables-discounting and supply-chain finance marketplace connecting MSMEs with multiple financiers. Overlaps with Invoicemart's factoring offering while operating a broader SCF stack.
• Credlix: Supply-chain finance and invoice-financing platform focused on export and domestic MSMEs. Comparable buyer-supplier-financier intermediation model, though more export-anchored.

Direct peers

• RXIL (Receivables Exchange of India): RBI-authorized TReDS platform jointly promoted by SIDBI and NSE. Directly competes with Invoicemart in the same regulated invoice-discounting marketplace, serving MSME sellers, corporate buyers, and bank/NBFC financiers under identical regulatory rules.
• Vayana Network (TradeCred): Supply-chain finance / invoice discounting platform serving MSMEs and corporate buyers across India. Competes with Invoicemart on receivables financing use cases, though outside the regulated TReDS rails.
• M1xchange (by Mynd Solutions): RBI-authorized TReDS platform operated by Mynd Solutions. The third of the three licensed TReDS operators competing head-to-head with Invoicemart on factoring unit volumes, financier participation, and CPSE onboarding.

Others

• NPCI (National Payments Corporation of India): Infrastructure provider whose NACH and payment rails Invoicemart uses for T+1 settlement. Not a competitor but a critical ecosystem dependency and potential governance counterparty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/invoicemart
• LinkedInlinkedin.com/company/invoicemart-a-treds-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Invoicemart