On Friday, C2FO, a prominent on-demand working capital platform, announced the launch of its platform aimed at tackling liquidity issues encountered by MSMEs. The platform has gone live with State Bank of India and Dabur India as its inaugural participants. This development follows the recent approval received by Dabur from C2FO’s wholly-owned subsidiary, C2FO Factoring Solutions Private, sanctioned by the Reserve Bank of India, to operationalize the TREDS platform, the company stated in a release.
In a significant development, C2FO, a leading on-demand working capital platform, announced on Friday the launch of its platform aimed at addressing liquidity challenges encountered by MSMEs. State Bank of India and Dabur India have emerged as the pioneering participants in this initiative. This milestone comes on the heels of the recent approval granted by C2FO’s wholly-owned subsidiary, C2FO Factoring Solutions Private, from the Reserve Bank of India, for the operationalization of the TREDS platform, as stated by the company in a release.
TREDS, an initiative introduced by the Reserve Bank of India (RBI) with the backing of the Ministry of Micro, Small & Medium Enterprises (MSME), is designed to tackle the liquidity and working capital challenges faced by MSMEs.
Basant Kaur, Country Head at C2FO India, emphasized the significance of this launch, stating, “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.”
TREDS functions as an electronic platform that streamlines the financing and discounting of trade receivables for MSMEs through various financiers.
C2FO’s India network boasts approximately 50,000 Indian MSMEs. Established in 2008 and based in Kansas City (USA), C2FO has facilitated over USD 300 billion in funding globally.
