M1xchange’s S2S platform crosses Rs1,400 Crore YTD throughput

M1xchange, an RBI-licensed TReDS platform, announced that its Small-to-Small (S2S) deep-tier financing platform has crossed Rs1,400 crore in year-to-date throughput. The platform currently records monthly transaction volumes of approximately Rs100 crore. The milestone comes at a time when India’s MSME credit ecosystem is witnessing increased adoption of formal, data-driven financing models, as businesses seek access to working capital to support growth and supply chain operations.

The S2S platform extends the TReDS framework beyond traditional corporate-to-MSME financing by enabling MSME buyers to access formal credit for procurement from MSME suppliers. It extends financing to Tier-2 and Tier-3 suppliers that sell to other MSMEs rather than directly to large corporates, reaching the 'deep-tier' of the supply chain. To support deep-tier financing, M1xchange uses CAE (Credit Analytics Engine), a risk assessment tool that provides borrower profile analysis and supports credit decisions through automated risk and financial assessment.

By financing validated trade transactions instead of relying solely on collateral, the platform aims to improve liquidity and support supply chain operations for smaller businesses.


Sundeep Mohindru, Promoter & Director, M1xchange said in a statement, “Deep-tier financing represents the next phase of India’s MSME credit evolution, and the strong growth witnessed on the S2S platform reflects the increasing trust in alternative, data-led credit frameworks. The broader policy and regulatory focus on improving MSME financing, along with growing participation by financial institutions seeking to expand their credit reach, is further accelerating the adoption of formal financing channels across the MSME ecosystem. By enabling financing between MSME buyers and MSME sellers, we are extending the reach of TReDS, strengthening supply chain liquidity, and expanding formal credit access for businesses operating deeper within supply chains.”