Invoicemart, India's leading digital invoice discounting marketplace by A. TREDS, a joint venture between Axis Bank and mjunction services, has tied up with leading PSU bank, Bank of Baroda (BoB) to discount invoices for MSMEs. The partnership with Bank of Baroda will now provide buyers and sellers registered on Invoicemart with a variety of options.
With this partnership, BoB now joins other leading financial institutions that are on board with A. TREDS as financiers. BoB is one of India’s leading public sector bank which has stepped up its focus on supply chain financing, whereby it will provide loans to MSMEs associated with large corporates.
TReDS is an online mechanism that helps MSMEs unlock working capital without the hassle of applying for loans. A solution which gives MSMEs control over their financial health and enables them to focus on growing their business.
Shares of the bank declined Rs 7, or 4.27%, to settle at Rs 157.00. The total volume of shares traded was 1,656,231 at the BSE (Tuesday).