C2FO, an on-demand working capital platform has introduced that its TReDS platform, named C2treds has gone live with State Bank of India (SBI) and Dabur India Ltd. among the many inaugural individuals on the platform.
This follows the latest approval obtained by C2FO’s wholly-owned subsidiary, C2FO Factoring Solutions Private Ltd., from the Reserve Bank of India, to operationalise the TReDS platform, the corporate mentioned in a press release.
TReDS, an initiative launched by the RBI and backed by the Ministry of Micro, Small & Medium Enterprises (MSME), addresses the liquidity & working capital challenges confronted by MSMEs.
It serves as an digital platform facilitating the financing and discounting of commerce receivables of MSMEs by a number of financiers, the corporate added.
Basant Kaur, Country Head, C2FO India mentioned, “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 assertion on their choice to accomplice with C2treds, Mr. Ashok Jain, Executive Vice President – Corporate Finance & Company Secretary at Dabur India and Mr. Rahul Sarawagi, DGM Head Treasury, expressed confidence within 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”
