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The digital supply chain finance marketplace has recorded a transaction throughput of Rs 2,100 crores in FY 2020-21.
Launched in 2018, Cashinvoice offers end-to-end Supply Chain Financing services to some of India’s Top 50 corporates, the platform has processed 5,00,000 invoices drawn by small and medium enterprises on their Large Corporate Buyers.
Speaking on the development, Arun Poojari, CEO, Cashinvoice said, “It is a proud moment for us to have crossed the Rs. 2000 Cr milestone during this challenging year and emerge as the fastest-growing Supply Chain Financing player in India. We intend to maintain the momentum and aim to cross the ~10000 Cr mark in FY21-22, through our robust digital process and innovative services to our current and prospective customers.”
Shrinivas Kasar, Co-Founder, Cashinvoice mentioned that the digital adoption accelerated as a result of lockdown which has helped them implement their solutions more efficiently.
“We have built easy-to-implement utilities that build a seamless interface between large ERP systems and banks who provide funding on our platform. To make access easier to small businesses, we also launched our mobile application in September 2020 and have witnessed that ~50% of our transactions happen through this channel. The pandemic has brought to light the need for efficient working capital, with a lot of acceptability for a healthy and digital supply chain amongst the corporates,” He added.
Speaking about Tata Motors’ association with Cashinvoice, Arati Desai, MD & CEO of TML Business Services Ltd subsidiary of Tata Motors “Partnering with Cashinvoice has helped us provide Tata Motors’ vendors with new innovative options. The team has a great problem-solving spirit and goes the extra mile to meet the client requirements. With good user experience and robust technology, Cashinvoice has proven themselves to be a reliable partner for us in our endeavor to support our vendors with effective working capital management.”