C2FO India says it thanks to Dabur and SBI for placing their trust in it as the inaugural participants on this journey.
With the launch of C2treds, C2FO distinguishes itself as the only fintech platform of scale in India offering both Ealy Pay (Dynamic Discounting) and TReDS functionalities
C2FO, a leading on-demand working capital platform, has announced that its TReDS platform, ‘C2treds’, has gone live with India’s largest bank State Bank of India (SBI) and Dabur India among the inaugural participants on the platform.
“This milestone follows the recent approval received by C2FO’s wholly-owned subsidiary, C2FO Factoring Solutions Private Ltd, from the Reserve Bank of India, to operationalize the TReDS platform,” C2FO said in a statement.
TReDS, an initiative introduced by the RBI and backed by the Ministry of Micro, Small & Medium Enterprises (MSME), addresses the liquidity & working capital challenges faced by MSMEs. It serves as an electronic platform facilitating the financing and discounting of trade receivables of MSMEs through multiple financiers, it said.
With C2treds live, C2FO distinguishes itself as the only fintech platform of scale in India offering both Ealy Pay (Dynamic Discounting) and TReDS functionalities. This unique combination not only enhances liquidity and finance accessibility for MSMEs but also enables large enterprises to create sustainable supply chains and achieve incremental savings. Additionally, it connects financiers with India’s largest network of AA and higher-rated enterprises requiring Supply Chain Finance.
Basant Kaur, country head at C2FO India, said, “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. We express our heartfelt gratitude to the RBI and the Ministry of Micro, Small & Medium Enterprises for their support and extend our sincere thanks to Dabur and the State Bank of India for placing their trust in us as the inaugural participants on this journey.”
In a joint statement, Ashok Jain, executive vice-president (corporate finance and company secretary) of Dabur India and Rahul Sarawagi, DGM head hreasury, said, “We have had a fruitful relationship with C2FO for the past eight years, benefiting our suppliers immensely from their Early Pay Program. Choosing C2treds as our TReDS platform of choice was a natural progression, given our positive experiences with C2FO. We believe this initiative will further strengthen our relationship with C2FO and our suppliers.”
