C2FO announced the launch of C2treds, the global fintech’s first national platform that expands working capital access “to all micro, small and medium enterprises (MSMEs) in India.”
C2FO is the latest and only US-based fintech “to join the Trade Receivables Discounting System (TReDS), distinguishing itself as the first platform of scale offering both Early Pay and TReDS benefits to MSMEs in India.”
Global organizations are paying “increased attention to C2FO for its unique capabilities to address the needs for sustainable and inclusive global economic growth.”
At the 2023 G20 Summit in New Delhi, “a major policy paper produced by the Business 20 (B20) presented at the summit cited C2FO as a major driver in improving access to capital that is essential for businesses and supply chains to thrive.”
This was the second consecutive year that C2FO has “received such an endorsement at the G20 Summit.”
Chief Executive Officer and founder Alexander “Sandy” Kemper was also a featured panelist and speaker at the 2023 Global SME Finance Forum in Mumbai, India.
He was invited to comment on “the importance of providing capital to small and midsize firms globally and how C2FO can make that vision a reality. C2treds is a significant step toward achieving C2FO’s vision.”
TReDS is an electronic platform “for facilitating the financing and discounting of MSMEs’ trade receivables through multiple financiers.”
These receivables can be due “from corporations or other buyers, including government departments and Public Sector Undertakings (PSUs). C2treds is only the fourth such entity to have received approval from the Reserve Bank of India (RBI) to date.”
C2treds went live in early May “with India’s largest bank, State Bank of India (SBI). Dabur India Ltd. was among its inaugural participants.”
C2FO’s Country Head in India, Basant Kaur said:
“We are dedicated to solving the challenges MSMEs face in every country. The nearly 200,000 suppliers currently on our network in India know that when they partner with C2FO, they are working with a recognized global leader dedicated to creating opportunity for businesses. With the provision of liquidity through C2treds and C2FO, businesses, especially MSMEs, will support and create thousands of jobs that are necessary for countries like India to continue on their journey of rapid economic growth.”
Following its first-quarter reporting, C2FO also announced it “surpassed a milestone of over $350 billion in working capital funding to suppliers worldwide since 2010. In the first quarter, the fintech delivered $17 billion in early payments, $1.4 billion of those to women- and minority-owned businesses.”
As covered, C2FO claims that it is “the world’s on-demand working capital platform, providing fast, flexible and equitable access to low-cost capital to nearly 2 million businesses worldwide.”
Using patented Name Your Rate technology and a suite of working capital solutions, companies can get “paid sooner by the world’s largest enterprises — unlocking billions in risk-free capital.”
With a mission of ensuring that every business has the capital needed to thrive, C2FO has delivered more than $350 billion in funding around the world.
Founded in 2008 and headquartered in Kansas City, USA, with offices around the globe, C2FO is working to “build a better, more inclusive financial system every day.”
