Top 12 Invoice Discounting Platforms In India (2026 Updated)

Do you hate waiting 30, 60 or 90 days to get paid by your customers and the money it’s costing your business? You’re not alone. Cashflow woes resulting from late payment is the top reason that businesses unable to grow— in fact it’s the most common reason for a profitable business going bust.

Here’s the stark reality: As per recent industry statistics, close to 78% of Indian MSMEs are grappling with severe working capital issues because they can’t collect payments on time. So you may have ₹50 lakhs in unpaid bills sitting on your books, but as far as paying salaries or buying inventory or capitalizing a growth opportunity is concerned, it might fly into the remote control.

And in comes invoice discounting platforms – the express lane to accessing working capital!

Invoice discounting marketplaces are disrupting the way the Indian companies manage their working capital. Via these platforms you can effectively “sell” your unpaid invoices to investors, banks and financial entities — turning them into instantaneous cash (usually 80-95% of the invoice) within an average of 24-72 hours.

And think of it this way: Instead of waiting months to get paid, you sell your invoice for a bit less and collect the cash today. No loan applications in the traditional sense, no collateral necessary and no mountains of paperwork. Just fast, have-it-now access to money you’ve already earned.

At a Glance: India’s Top Invoice Discounting Platforms (2026)

Platform	Type	Best For	Approval Time	Rate Range	Min. Invoice Value	Special Feature
KredX	Marketplace	SMEs with blue-chip clients	24-72 hours	13-21%	₹1 lakh	Largest investor network
M1xchange	TReDS	MSMEs with corporates	24-48 hours	10-18%	₹10,000	RBI-regulated
Invoicemart	TReDS	Small manufacturers	24-48 hours	12-20%	₹10,000	Axis Bank backed
Clear	TReDS	Tech-savvy businesses	24-72 hours	12-20%	₹50,000	Best integration
Invoice Trades	Marketplace	Transparency seekers	48 hours	14-22%	₹1 lakh	MCA certified
Credlix	Direct Lender	Exporters	24-48 hours	12-20%	₹5 lakhs	Export focused
Indifi	Digital Lending	Fast-growing SMEs	24 hours	15-24%	₹2 lakhs	Fastest approval
Cashflo	B2B Platform	Enterprise suppliers	48-72 hours	10-18%	₹1 lakh	ERP integration
Oxyzo	Direct Lender	B2B businesses	48 hours	14-22%	₹5 lakhs	Unicorn backed
Vivriti Capital	Debt Platform	Mid-market firms	3-7 days	13-20%	₹10 lakhs	Customized solutions
Drip Capital	Export Finance	International trade	24-72 hours	12-18%	$10,000	Global presence
RXIL	TReDS	MSME with PSUs	24-48 hours	10-18%	₹10,000	NSE backed

What Are Invoice Discounting Platforms?

IDPs are digital financial service providers that redefine how businesses manage their working capital. These platforms link businesses with investors, banks and financial institutions that then allow businesses access to the working capital that they have tied up in unpaid invoices.

Think of it like this: when you provide a client with goods or services, you generally wait 30, 60 or even 90 days to be paid. There can be a cash crunch while you are waiting—after all, you have bills to pay and salaries to disburse, not to mention stock to buy. Invoice discounters solve this by enabling you to sell unpaid invoices at a slight discount (around 80-95% of the invoice amount) and get cash right away.

The Digital Advantage

The beauty of innovative invoice discounting platforms is that they use technology to override long and torturous funding processes full of papers, documentation requirements, months, even weeks in some cases before a decision for approval.

• Evaluate applications in 24-72 hours, not weeks
• Get rid of the collateral and use the invoice as a security!
• Maintaining price with clear pricing: competitive rate by marketplace ratio bidding
• Provide frictionless digital journeys, no less paperwork
• Combine several funding partners to offer businesses more competitive rates and terms

Top Invoice Discounting Platforms in 2026

1. KredX – Best Overall Invoice Discounting Platform

Overview: KredX is India’s first invoice discounting marketplace, enabling businesses gain quick access to working capital in 24-72 hours by selling their unpaid invoices at a competitive rate through a pool of investors. KredX, acquired in 2015 has facilitated over ₹10,000 crores worth of transactions with some of the most reputed names in India trusting us.

Key Features:

• Type: We buy your invoices/sell invoices raised on blue-chip companies and reputed buyers.
• Faster approvals with an AI-driven risk assessment engine
• Funds disbursed within 24-72 hours
• Rates as low as 13% APR* — competitive rates and terms!
• Recourse and non-recourse options available
• Relationship manager servicing business accounts

Pros:

• Biggest investor base helps offer competitive interest rates
• Robust technology platform that’s easy to use
• Excellent track record and credibility
• Transparent bidding process
• No hidden charges

Cons:

• Doesn’t cater much to smaller or lesser-known companies; focuses on established clients
• Small transactions may not satisfy the minimum invoice value requirement
• Approval time may be longer for first-time users

Best For: Established SMEs and mid-sized businesses who raise invoices on big corporates and blue-chip firms

Pricing: Discount rates range between 13–21% annually depending on invoice quality, tenure, and customer creditworthiness

2. M1xchange – Best TReDS Platform

Overview: M1xchange is one of the three RBI-approved TReDS (Trade Receivables Discounting System) platforms operating in India targeted towards addressing credit-related challenges for MSMEs. Mynd Solutions and NSE are sponsoring M1xchange, which has funded more than ₹40,000 crores in transactions from the time it was founded.

Key Features:

• RBI-regulated and government-backed platform
• Various financiers compete for your invoices
• Completely paperless and digital process
• Automatic scrap generation through integration with GSTN for invoice verification
• For MSMEs acting as vendor ecosystem partners for large corporates and PSUs
• Real-time tracking and transparency

Pros:

• Most comprehensive adherence to regulation and security
• Competitive rates with more than one financier quoting for the business
• Government backing ensures trust
• Specifically designed for MSMEs
• Helps build credit history

Cons:

• Applies only on invoices raised on registered buyers
• Both buyer and seller need to be registered within this service
• Standard onboarding can be a bit complicated
• Limited to trade receivables only

Best For: MSMEs operating with large corporates, PSUs & Govt.

Pricing: Pricing by competitive bid, generally 10% to 18% per annum

3. Invoicemart – Empowering MSMEs Through Seamless Discounting

Overview: Another prominent market-led TReDS platform is Invoicemart, promoted by both Axis Bank and Mjunction. With a strong focus on financial inclusion, Invoicemart has successfully onboarded thousands of MSMEs and large corporates.

Key Features:

• RBI-approved TReDS platform
• Focused on micro and small enterprises
• Quick settlements from large corporates
• Integrated with the GST Network for seamless invoice verification
• Multiple financiers, including banks and NBFCs
• Secure and encrypted transactions

Pros:

• Strong backing from top financial institutions
• Easy onboarding process for MSMEs
• Competitive financing rates
• Commitment to serving underserved segments
• Excellent customer support

Cons:

• Requires buyer registration and participation
• Limited geographic reach in certain regions
• Processing times can vary based on buyer response
• Platform fees apply

Ideal For: Small manufacturers and traders supplying to large corporates.

Pricing: Competitive bidding rates between 12–20% annually.

4. Clear (formerly ClearTax) – Best for Tech-Integrated Solutions

Overview: Clear adds its depth of tax and compliance knowledge to invoice discounting, with a tech-first approach and a platform that integrates smoothly with business accounting systems. User friendly and full of automations, Clear currently processes for thousands of business in India.

Key Features:

• Automated invoice discounting through TReDS
• Seamless integration to your GST and your accounting software
• AI-driven credit assessment
• Real-time invoice tracking and analytics
• Vendor financing solutions
• Compliance and reconciliation tools

Pros:

• Exceptional user interface and experience
• Strong technology integration capabilities
• A leading name of fintech realm
• Comprehensive financial management ecosystem
• Excellent mobile app functionality

Cons:

• Somewhat new in the invoice discounting category
• Limited to TReDS framework
• Other fees that may be higher than pure-play platforms
• Best suited for tech-savvy users

Best For: Tech-savvy companies seeking integrated accounting and financial management capabilities

Pricing: Competitive TReDS rates and platform usage fees

5. Invoice Trades – Best for Transparent Marketplace Experience

Overview: Invoice Trades is a digital marketplace that links businesses to institutional investors and financiers. The platform is MCA & MSME certified and gives importance to transparency, security and speed of disbursal.

Key Features:

• Open marketplace with auction-based pricing model
• A faster route to approval with AI-powered risk assessment
• Funds disbursed within 48 hours
• No hidden charges policy
• Both recourse and non-recourse options
• Dedicated customer success team

Pros:

• Highly transparent bidding process
• Market dynamics causes competitive rates
• Fast approval and disbursement
• Flexible terms and conditions
• Strong focus on MSME empowerment

Cons:

• Smaller network of investors, as compared to KredX
• Higher documentation requirement for first few transactions may be necessary
• Platform still building brand recognition
• Limited geographic presence

Best For: Those with an MSME business who want clear pricing and flexible terms.

Cost: Rates are 14–22% APR depending on the quality of your invoice grade.

6. Credlix – Best for Exporters and Global Trade

Overview: Credlix is a financing platform for exporters and companies involved in international trade. Powered by Moglix, Credlix recognises that dealing with cross-border transactions and long payment cycles are specific challenges of the export community.

Key Features:

• Collateral-free export financing
• Funds disbursed within 24-48 hours
• Global buyer network integration
• Trade documentation support
• Credit insurance options available
• Multi-currency support

Pros:

• Specialized expertise in export financing
• Understanding of international trade nuances
• Fast processing for urgent shipments
• Competitive rates for export invoices
• Additional trade services available

Cons:

• Primarily focused on export businesses
• Can be an impractical option for purely domestic activities
• Requires international trade documentation
• Higher minimum transaction values

Best For: MSMEs and international trading businesses

Profile: Export-oriented businesses / Trading internationally or globally

Pricing: Export financing at a rate of 12%-20% per year

7. Indifi – Best for Fast-Growing SMEs

Overview: Indifi maintains that it is mainly a digital lending platform with robust invoice discounting capabilities. With its data-led and fast-moving strategy, Indifi caters to businesses across retail, logistics, travel and e-commerce industry.

Key Features:

• Fast approvals within 24 hours
• AI-driven credit underwriting
• Zero collateral requirements
• Flexible repayment options
• Integration with e-commerce platforms
• Working capital line of credit

Pros:

• Extremely fast processing and disbursement
• Modern, user-friendly digital platform
• Strong network of lending partners
• Minimal documentation required
• Excellent customer service

Cons:

• Visits can have rates higher than marketplace platforms
• Focus primarily on high-growth sectors
• May have strict eligibility criteria
• Platform fees can increase total cost

Best For: Retail, e-commerce, logistics, travel industries Fast-growing SMBs

Pricing: 15% -24% a year depending on business profile.

8. Cashflo – Best for Enterprise Supply Chain Management

Overview: Cashflo is a B2B invoice discounting platform that uniquely focuses on enterprise buyer networks and supply chain financing. Enter Cashflo, a company that works with large corporates to get early access to their payment runs so that small suppliers can do the same and fortify the entire supply chain.

Key Features:

• Automated early payment programs
• Real-time analytics and tracking
• ERP integration other than Tally (SAP, Oracle) without any raw data conversion.GetCurrentMethod()35 36DP-RemoteThis is a DP i/o processing system running under UNIX (Solaris and AIX).
• Dynamic discounting options
• Supplier network management
• EBITDA improvement tools for buyers

Pros:

• Enterprise-grade platform security and reliability
• Good for big companies sending pay to suppliers
• Transparent savings and adoption tracking
• Buyers and suppliers win-win thinking model
• Strong technology infrastructure

Cons:

• Requires buyer organization participation
• Not best for business lacking big corporate clients
• Initial setup can be complex
• Better for supply chain relationships that are already established

Ideal For: Providers to large corporates and enterprieses with wide vendor network.

Pricing: Generally subsidized by buyer, hence lower actual costs for suppliers.

9. Oxyzo – Best for Fast Approvals

Overview: Oxyzo, supported by OfBusiness, became a unicorn this year, proving the success of its methodology for B2B lending and invoice financing. Oxyzo, popular for quick approvals and data-based decision-making, caters to manufactures, traders and service providers.

Key Features:

• Approvals within 48 hours
• Customized financing solutions
• Zero hidden charges transparency
• Strong backing by OfBusiness ecosystem
• Technology-driven risk assessment
• Flexible credit limits

Pros:

• One of the quickest approvals in the business
• Strong financial backing ensures reliability
• Transparent pricing model
• Custom solutions for various kinds of businesses
• Excellent track record and credibility

Cons:

• More likely (but not guaranteed) to require a higher minimum turnover amount
• Focus primarily on B2B businesses
• Interest rates at the top end for riskier profiles
• Limited presence in smaller cities

Best For: Growing SMEs and mid-sized companies in trading/manufacturing

Pricing: Competitive rates from 14–22% annually

10. Vivriti Capital – Best for Mid-Market Enterprises

Overview: Vivriti Capital caters to India’s unmet mid-market needs through customized debt solutions such as invoice discounting. They have a robust credit analysis and personalized approach, making them ideal for companies ready to scale.

Key Features:

• Tailored financing options
• Credit intelligence and analytics
• Flexible terms and structures
• Network of institutional investors and NBFCs
• Relationship-based approach
• Higher credit limits available

Pros:

• Specialized focus on the mid-market segment
• In-depth credit assessment beyond traditional balance sheets
• Access to higher funding amounts
• Negotiable and flexible terms
• Strong institutional backing

Cons:

• Not suitable for very small businesses or startups
• Higher minimum eligibility requirements
• More complex application process
• Longer processing times compared to fully digital platforms

Ideal For: Established mid-sized businesses with strong customer relationships

Pricing: Customized based on company profile, typically between 13%–20% annually

11. Drip Capital – Best for International Exporters

Overview: Drip Capital is a dedicated export finance company — it offers unsecured capital to Indian exporters. With extensive experience in international trade finance, and a model that spans major corners of the world, Drip Capital has empowered over 5,000 exporters.

Key Features:

• Unsecured export finance for each client up to $2.5 million
• 24–72 hour approval process
• Global market concentration (US, Middle East, LATAM)
• Trade credit insurance available
• Buyer verification services
• Integrated logistics tracking

Pros:

• Deep expertise in export financing
• Strong presence in international markets
• Fast processing and approvals
• No collateral requirements
• Additional trade services (insurance, verification)

Cons:

• Only for export businesses
• Requires minimum export volumes
• Not suitable for domestic operations
• Documentation is quite extensive for newbies

Best For: Indian exporters who have international buyers, especially in textiles, chemicals, and engineering goods

Pricing: 12–18% p.a. export financing (depending on buyer country and creditworthiness)

12. RXIL (Receivables Exchange of India Ltd) – Most Trusted TReDS Platform

Overview: Funded by the National Stock Exchange (NSE) and SIDBI, RXIL was the country’s maiden TReDS platform. As the first organized platform for invoice discounting, RXIL is unmatched in terms of credibility and regulatory norms.

Key Features:

• RBI-regulated TReDS platform
• Backed by NSE and SIDBI
• Zero collateral requirements
• Competitive bidding by multiple financiers
• Transparent auction process
• Trusted by Big Industries and PSUs

Pros:

• Highest level of regulatory compliance
• Strong institutional backing
• Transparent and fair bidding process
• Structured platform with clear processes
• Builds credit history for MSMEs
• Extensive financier network

Cons:

• Sellers must also be registered
• Processing depends on buyer approval
• Initial onboarding can be time-consuming
• Platform fees and charges apply
• Limited to specific transaction types

Best For: Small and medium-scale businesses that are associated with big corporates, PSUs, or government agencies

Pricing: Auctioned, market-based price (10–18% per year on average since NEM inception)

Industry-Specific Recommendations

Industries Cow Cash flows for different types of industries vary. Here’s our breakdown of the top-performing platforms by sector:

Manufacturing Sector

Recommended Platforms: KredX, Oxyzo, M1xchange

Why:

• Manufacturing has typically long payment cycles (30–60 days)
• These platforms understand industry-specific challenges
• Larger invoices are the norm and are not problematic
• Procurement of raw material requires continuous working capital

Key Considerations:

• Find platforms that provide bigger credit limits
• Seasonal demand fluctuations require flexibility
• Integration with ERP solutions is useful

Export and International Trade

Recommended Platforms: Credlix, Drip Capital

Why:

• Specialized expertise in export documentation
• Understanding of international payment terms
• Support for various INCOTERMS
• Credit insurance options available
• Multi-currency capabilities

Key Considerations:

• Buyer country risk assessment
• Currency fluctuation protection
• Compliance with export regulations
• Letter of credit support

Retail and E-commerce

Recommended Platforms: Indifi, Cashflo, Clear

Why:

• High inventory turnover depends on quick access to capital
• Seasonal peaks demand flexible financing
• Integration with e-commerce platforms
• Piecework vs large lots of bulk orders

Key Considerations:

• Find platforms with zero minimum lock-in
• Mobile app features for easy management on the move
• Integration with marketplaces (Amazon, Flipkart)
• Fast approval and disbursement

IT and Professional Services

Platforms to Consider: KredX, Invoice Trades, M1xchange

Why:

• Service-based invoices require different evaluation
• Project-based billing leads to terrible cash flow
• Frequent interactions with Fortune 500 clients
• Milestone-based payments are common

Key Considerations:

• Platform should accept service invoices
• Proof of service completion requirements
• Flexibility for project-based billing
• Understanding of retention clauses

Construction and Infrastructure

Suggested Platform: Vivriti Capital, Oxyzo, Cashflo

Why:

• Long project timelines and payment terms
• Large invoice values
• Progress billing and retention money
• Orders from Government and PSUs

Key Considerations:

• Higher credit limits available
• Understanding of retention clauses
• Acceptance of work-in-progress billing
• Experience with government payment cycles

Trading and Distribution

Recommended Platforms: Oxyzo, KredX, Indifi

Why:

• High volume, moderate value transactions
• Thin margins require competitive rates
• Frequent repeat transactions
• Quick turnaround essential

Key Considerations:

• Bulk transaction discounts
• Simplified recurring invoice process
• Fast approval for repeat customers
• Competitive discount rates

Textiles and Apparel

Recommended Platforms: Credlix (for export), M1xchange (for domestic)

Why:

• Both domestic and export markets
• Seasonal nature of business
• Working with multiple large buyers
• Long production to payment cycles

Key Considerations:

• Domestic as well as export invoices are supported
• Understanding of seasonal fluctuations
• Acceptance of purchase order financing
• Experience with textile industry dynamics

How to Choose the Best Platform for Your Business

Since there are so many good platforms out there, it can be difficult to know where to start with invoice discounting. Here’s a rational way to make the best choice:

Step 1: Evaluate Your Business Profile

Ask yourself:

• What’s your annual turnover?
• How long have you been in business?
• Who are your target customers (MSMEs, large corporates, PSUs, global)?
• What’s your average invoice value?
• How long are your payment terms?
• What kind of business are you in?

Step 2: Define Your Financing Needs

Determine:

• What is the required working capital per month?
• How often are you planning to use this service?
• How quickly do you need it (same day, within the week)?
• Should all invoices be discounted or some?
• Recourse v –> non recourse? What’s your risk tolerance agggh.

Step 3: Compare Platform Features

Create a comparison matrix:

• (Mention 3-4 that fit your profile current situation based) here:
• Compare discount rates and fees
• Check approval and disbursement timelines
• Review eligibility criteria
• Assess technology and user experience
• Evaluate customer support quality

Step 4: Calculate Total Costs

It’s not just about the discount rate:

• Processing fees
• Platform subscription charges
• Hidden costs (if any)
• Early settlement or late payment penalties
• Annual cost vs. transaction cost

Example Calculation:

Invoice Value: ₹10,00,000
Discount Rate: 18% annually
Payment Cycle: 90 days
Processing Fee: 1%

Discount Amount = ₹10,00,000 × 18% × (90/365) = ₹44,383

(Processing fee = 1% of the loan amount) = ₹10,00,000 × 1% = ₹10,000

Total Cost = ₹54,383
You Receive = ₹9,45,617

Effective Cost = 5.43% for 90 days = 22.17% pa

Step 5: Start Small and Test

Best practice:

• Start with one or two invoices
• Check the speed and reliability of the platform
• Evaluate customer service responsiveness
• Review of reporting and analytics
• Qualify the experience before giving out large amounts

Step 6: Read the Fine Print

Critical clauses to review:

• Recourse provisions and your liability
• Lock-in periods and exit terms
• Penalty clauses
• Dispute resolution mechanisms
• Data privacy and security policies
• Platform’s right to reject invoices

Step 7: Research References and Reviews

Do your homework:

• Look at online reviews and ratings
• Request customer references specifically in your industry
• Check social media feedback
• Hunt for complaints or negative press
• Verify regulatory compliance and certifications

Conclusion

Invoice discounting platforms have proved to be a life saver for Indian companies looking to balance out the inadequacies in their working capital due to long payment cycles. Traditional MSMEs, to fast-growing startups and export-oriented businesses – these platforms provide quick, flexible financing that was unimaginable a mere decade ago.

Key Takeaways

1. Numerous Outstanding Choices: Today, India has 12+ world class invoice discounting platforms – they all have their own talents and strengths which serve different types business needs.
2. Tech is the Enabler: AI, machine learning and digital infrastructure have made invoice discounting quicker, cheaper and easier than it’s ever been.
3. Not one-size-fits-all: Decide where to play based on what you need. Export vs domestic, MSME vs mid market, speed vs cost, technology Vs relationships.
4. Strategic Usage is Everything: You’re not supposed to discount all of your invoices–use it strategically for real cash flow needs and growth prospects.
5. The Future Is Promising: With regulation support, technology help and growing awareness, invoice discounting is going to be mainstream for Indian businesses by 2027.

Making Your Decision

When selecting your invoice discounting partner, start with these questions:

• What’s my primary business focus? (Export, domestic, specific industry)
• How much of a hurry am I in to get a flow of cash? (Same day vs. within a week)
• What’s my customer profile? (Blue-chip, PSU, small businesses)
• What volume will I discount? (Occasional vs. regular)
• What’s more important — least costly, fastest speed?

Then shortlist 2-3 platforms that fit you:

• Look at total costs, not only rates
• Test with small transactions first
• Evaluate customer service quality
• Assess technology and user experience
• Build relationships before you need them

The Bigger Picture

Invoice discounting is way beyond financing — it is a strategic weapon in the sense that it can:

• Accelerate business growth
• Build better supplier relationships by paying on-time
• Allow you to provide better terms for your clients
• Reduce dependency on promoter funding
• Maintain healthy financial ratios
• Seize time-sensitive opportunities

As digital lending in India matures and more businesses adopt these platforms, we’ll see healthier supply chains, stronger MSMEs, and a more inclusive financial system.

Take Action Today

You don’t need a cash squeeze to consider invoice discounting:

• Research: Save this guide in your bookmarks and check out 3-4 platforms that may reflect your needs.
• Compare: Use our comparison table to assess the features and costs.
• Register: Register with 2 platforms (most are free to join).
• Test: Discount an invoice to see it in action.
• Optimize: Establish relationships and get better terms as you grow.

The fact is, the working capital you need to grow your business is already in your books — locked up in those unpaid invoices. Invoice discounting platforms are the answer; they’re just the key to unlock it.

Begin today and cash flow will never hold back your business growth again.