2 weeks ago
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C2FO, an on-demand working capital platform has announced that its TReDS platform, named C2treds has gone live with State Bank of India (SBI) and Dabur India Ltd. among the inaugural participants on the platform.
This follows the recent approval received by C2FO’s wholly-owned subsidiary, C2FO Factoring Solutions Private Ltd., from the Reserve Bank of India, to operationalise the TReDS platform, the company said in a statement.
TReDS, an initiative introduced by the RBI and backed by the Ministry of Micro, Small & Medium Enterprises (MSME), addresses the liquidity & working capital challenges faced by MSMEs.
It serves as an electronic platform facilitating the financing and discounting of trade receivables of MSMEs through multiple financiers, the company added.
Basant Kaur, Country Head, C2FO India said, “The single biggest impediment to growth in a business is the availability of working capital. With the launch of C2treds, we hope to unlock significant economic value for MSMEs and contribute to India’s rapid, inclusive economic growth.” In a joint statement on their decision to partner with C2treds, Mr. Ashok Jain, Executive Vice President - Corporate Finance & Company Secretary at Dabur India and Mr. Rahul Sarawagi, DGM Head Treasury, expressed confidence in the platform, stating, “We have had a fruitful relationship with C2FO for the past eight years, benefiting our suppliers immensely from their Early Pay Program. Choosing C2treds as our TReDS platform of choice was a natural progression, given our positive experiences with C2FO. We believe this initiative will further strengthen our relationship with C2FO and our suppliers”
