Artfine collaborates with RXIL to fund invoice factoring for MSMEs


Artfine collaborates with RXIL to fund invoice factoring for MSMEs

New Delhi, 22 Feb. (KNN) Artfine, a supply chain finance company which recently obtained the NBFC factoring license from RBI through its group company Arth Padarth Factoring and Finance Pvt Ltd. partnered with Receivables Exchange of India Ltd. (RXIL) to fund invoice factoring for MSMEs and help MSMEs sell their receivables on RXIL’s TReDS platform.

Artfine also intends to integrate its “ArtfineBilz” invoice discounting platform with RXIL to provide a seamless customer experience, deliver new products and increase its reach to enterprises as well as MSMEs.

Commenting on the partnership, Shantanu Bairagi, co-founder of Artfine, said, “Supply chain finance represents less than 5% of the outstanding assets of the entire banking system and has immense potential for growth. Our financial solutions are designed to bridge the gap in the industry and provide competitive rate financing to MSMEs. Through our partnership with RXIL’s TReDS platform, we aim to become a go-to provider of supply chain finance solutions for MSMEs, helping them unlock needed working capital without having to go through lengthy loan application processes.

Ketan Gaikwad, MD and CEO of Receivables Exchange of India Limited (RXIL) said, “Over the years, with the advent of technology supported by several government initiatives, digital supply chain finance has presented itself. as a viable solution for end-to-end solutions. complete the financing process and ensure the timely provision of working capital to MSMEs. We are privileged to partner with Artfine and look forward to their valuable support to strengthen MSME financing on the TReDS platform.

TReDS is a digital platform to facilitate the financing of trade receivables of MSMEs through several financiers. This gives MSMEs better access to finance and imposes greater discipline on companies to pay their dues on time. RBI’s objective when establishing TReDS was to simplify the flow of money for MSMEs by turning their trade receivables into cash. (KNN Office)


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