M1xchange
“Can a regulated TReDS marketplace become the dominant working-capital infrastructure for India's entire MSME supply chain, including deep-tier MSME-to-MSME financing?”
Founded in 2017 as one of only three RBI-licensed TReDS platforms in India, M1xchange operates as a digital marketplace enabling MSMEs to discount invoices through a network of 74+ bank and NBFC financiers. The platform has progressively expanded from a corporate-buyer-centric model to a deep-tier 'Small-to-Small' (S2S) model, allowing MSME buyers to also initiate invoice discounting for their MSME suppliers — broadening the addressable market significantly. A partnership with Mastercard signals ambitions toward digitizing and standardizing the underlying invoice discounting infrastructure at scale.