M1xchange, India’s premier RBI-authorized TReDS (Trade Receivables Discounting System) platform, has marked a significant achievement by surpassing ₹78,000 crore in invoice discounting throughput in FY24-25, reflecting a 100% year-on-year growth. Notably, the platform recorded ₹10,000 crore in discounting in March 2025 alone and experienced a 150% growth in throughput in H2, rising from ₹32,000 crore in H1 to over ₹46,000 crore.
This surge aligns with a national push to bridge India’s MSME credit gap, which stands at ₹20-25 lakh crore. Backed by government mandates requiring large businesses to register on TReDS, M1xchange has expanded its impact, onboarding 1,000+ corporates and 20,000+ MSMEs in FY25. Its new S2S (Small-to-Small) financing initiative has also brought Tier 2 and 3 MSMEs into the formal credit ecosystem.
Sundeep Mohindru, Promoter & Director, emphasized the platform’s transformative role: “With ₹78,000 crore in annual discounting and ₹10,000 crore in a single month, we’re enabling MSMEs with faster, cheaper access to capital. This is vital for sustaining India’s industrial growth.”
Currently, over 60% of M1xchange’s activity comes from key sectors such as Infrastructure, Textiles, Automotive, Energy, and Agriculture. As the government continues to prioritize MSME procurement and financing reforms, M1xchange is set to deepen its impact and redefine MSME credit access across India.
