Private sector Lakshmi Vilas Bank has joined hands with Invoicemart, by A. TReDS Ltd, a joint venture between Axis Bank and mjunction.
Speaking on this partnership, Mr. Kalyan Basu, MD & CEO, A. TReDS Ltd said, “Invoicemart is privileged to tie up with Lakshmi Vilas Bank and we look forward to their constant support in helping MSMEs, who are the back bone of Indian Economy. We are investing in financial technology and innovation to facilitate mass formalization of the MSME sector in our endeavor to bridge the gap which has prevented institutional lenders from reaching out to small businesses.
Mr. P. Mukherjee, MD & CEO Lakshmi Vilas Bank said, “We at LVB are delighted to be associated with Invoicemart in the TReDS space as it will provide MSMEs with speedier and timely finance. The TReDS platform is indeed a path breaking initiative by RBI towards providing efficient working capital financing for MSME suppliers. This platform has great potential for making supply chain financing more competitive.”
Mr. Basu added, “TReDS has proved to be a huge enabler for MSMEs by providing transparency in financing with best possible rates.”