M1xchange Deepens Kerala Footprint to Enhance Digital Working Capital Access for MSMEs
As businesses increasingly become part of organised domestic and global supply chains, access to timely liquidity is becoming essential to support growth and manage working capital efficiently.
M1xchange, India's RBI-licensed Trade Receivables Discounting System (TReDS) platform, is enhancing its presence in Kerala as it looks to accelerate the adoption of digital invoice financing among the state's MSMEs. With Kerala emerging as a key hub for exports, manufacturing, logistics and technology-led enterprises, the company aims to help businesses improve access to timely working capital through faster, collateral-free invoice financing.
Backed by initiatives such as the Mission 1000 programme and continued investments in industrial infrastructure, ports and logistics, Kerala is creating an enabling environment for MSMEs to scale. As businesses increasingly become part of organised domestic and global supply chains, access to timely liquidity is becoming essential to support growth and manage working capital efficiently.
Today, more than 2000 enterprises from Kerala have joined M1xchange, with invoices from the state accounting for nearly ₹12,000 crore of the platform’s transaction volume. Building on this momentum, M1xchange will accelerate adoption of digital invoice financing across priority sectors manufacturing, exports, food processing, healthcare, logistics and technology
“Kerala has consistently demonstrated strong entrepreneurial capability, supported by a vibrant MSME ecosystem and a growing export economy. As businesses expand into larger domestic and global supply chains, access to timely working capital becomes increasingly important. The Government’s recent push further accelerating adoption of digital invoice financing. This momentum is helping platforms like M1xchange grow faster and reach more MSMEs across the state. We believe the rising awareness of TReDS, and the expanding ecosystem will enable more businesses in Kerala to improve liquidity, strengthen cash flows and scale with greater confidence,” said Sundeep Mohindru, Promoter & Director, M1xchange.
This growth is further reinforced by recent regulatory changes. The Ministry of MSME’s notification mandating all Central Public Sector Enterprises (CPSEs) to onboard RBI‑authorized TReDS platforms for settling MSME invoices is set to strengthen payment discipline and deepen access to formal working capital. Coupled with RBI’s 2026 TReDS Master Direction, which removes mandatory seller‑side due diligence for MSMEs while retaining full KYC and platform‑level payment safeguards, the ecosystem now supports near‑frictionless onboarding and faster, collateral‑free financing against approved invoices. Together, these measures are expected to significantly enhance liquidity for MSMEs and expand their participation in larger, formal supply chains.
M1xchange plans to further expand its network of MSMEs and corporate buyers across Kerala to strengthen access to affordable working capital. To date, the platform has facilitated over ₹3,30,00 crore worth of invoice financing, onboarding over 15,000 corporate anchors, 90,000 MSME vendors, and 80 financier partners. The platform is also the first platform to expand the scope of TReDS through its Small-to-Small Financing initiative, enabling tier II and tier III MSMEs to access early payments without collateral at competitive rates.
By leveraging its end-to-end digital platform, M1xchange aims to support Kerala's MSMEs in improving liquidity, strengthening credit discipline and accelerating the adoption of formal credit across the state's manufacturing, trade, export and services sectors.
