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C2FO Selected to Provide Platform for Small, Medium Businesses in India

C2FO's working capital platform will become the national platform for small and medium sized business in India. Photo credit: Shutterstock (THICHA SATAPITANON)

Posted May 16, 2024

Leawood-based fintech firm C2FO’s capital platform has been selected to operate with the State Bank of India (SBI) and Dabur India Ltd. as the platform’s inaugural participants.

The Trade Receivables Discounting System (TReDS) platform—also named C2treds—has gone live with India’s largest bank SBI and consumer goods company Dabur India Ltd., according to a release.

The TReDS platform creates liquidity and working capital solutions for Ministry of Micro, Small & Medium Enterprises (MSME). It serves as an electronic platform facilitating the financing and discounting of trade receivables of small businesses. TReDS is an initiative introduced by the Reserve Bank of India (RBI), according to the release.

C2FO is the only fintech platform of scale in India offering TReDS functionalities.

“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,” country head at C2FO India, Basant Kaur said in the release.

Since 2010, following CSFO’s first transaction, the firm has processed more than 50 million approved invoices per day and has reached over $315 billion in funding advanced to its customers. C2FO was founded in 2008.