Invoicemart, a leading digital marketplace for invoice discounting, has set an ambitious target of onboarding one million micro, small, and medium enterprises (MSMEs) by 2030.
This move aligns with India’s growing push towards digital financial inclusion and the increasing adoption of technology-driven lending solutions among smaller businesses.
The platform, which operates under the Trade Receivables Discounting System (TReDS) framework regulated by the Reserve Bank of India (RBI), enables MSMEs to access working capital by selling their trade receivables to financiers.
“Now we have 60,000 MSMEs. We want to in next five years reach 1 million by 2030,” Prakash Sankaran, MD & CEO, Invoicemart told businessline here.
This optimism to achieve the 1 million goal is coming from the trend of replication of buyers among MSMEs who find newer set of buyers once they join the platform, he noted.
“Earlier it was a one buyer, one seller scenario. Now sellers are seeing value and get multiple buyers for their products through our platform. We are now making MSMEs aware about this. This will bring confidence to more MSMEs to join us,” he added.
Besides expanding MSME onboarding, Invoicemart also sees government business as a growth driver for it in coming days. Already five State governments are on board. “Government is growth area for us. Corporate will continue to be the strongest and that JS where we have a well diversified large base. We now have 2300 corporates and we should onboard 15,000 at least in coming days”, Sankaran added.
So far Invoicemart, which is a joint venture between Axis Bank and mjunction, has processed invoices to tune of ₹1.60 lakh crore. “We expect our volumes to grow 40-50 per cent in coming years”.
So far this fiscal year, the number of MSMEs added to the Invoicemart platform is about 12,000.
Sankaran said strength of Invoicemart is its size and high quality of governance. “We have a proper risk management. That is helping us”, he added.
He also said penetration can improve if doing transactions is made mandatory and not just onboarding is made mandatory.
Since its inception, InvoiceMart has facilitated significant liquidity flow to smaller enterprises by leveraging digital lending infrastructure.
India’s MSME sector is the backbone of the economy, and access to timely finance is crucial for its growth. By leveraging digital infrastructure, Invoicemart, which is country’s largest TReDS platform, is committed to expanding its platform to one million MSMEs by 2030, Sankaran added.
The Invoicemart CEO’s optimism comes at a time when India’s MSME financing gap remains a major challenge. According to a report by the International Finance Corporation (IFC), the formal credit gap for MSMEs in India stands at nearly $530 billion. While digital lending platforms have started addressing this gap, the sector still remains underserved.
Asked if Invoicemart intends to raise capital to fund growth, he replied in the negative.
Leveraging Technology for Growth
InvoiceMart’s growth strategy hinges on strengthening its technological infrastructure, expanding partnerships with financial institutions, and increasing awareness among MSMEs about invoice discounting. The platform allows enterprises to receive payments for their invoices within days rather than waiting for extended credit cycles from large buyers.