New Delhi: C2FO, a leading on-demand working capital platform, on Friday said one of its platforms, which addresses liquidity challenges faced by MSMEs, has gone live with State Bank of India and Dabur India, as inaugural participants.
This follows the recent approval received by C2FO's wholly-owned subsidiary, C2FO Factoring Solutions Private, from the Reserve Bank of India, to operationalise the TReDS platform, the company said in a release.
TReDS, an initiative introduced by the Reserve Bank of India (RBI) and backed by the Ministry of Micro, Small & Medium Enterprises (MSME), addresses the liquidity & working capital challenges faced by MSMEs.
"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," said Basant Kaur, Country Head at C2FO India.
TReDS serves as an electronic platform facilitating the financing and discounting of trade receivables of MSMEs through multiple financiers.
About 50,000 Indian MSMEs are part of C2FO’s India network.
Founded in 2008, and headquartered in Kansas City (USA), C2FO has delivered more than USD 300 billion in funding around the world.
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