The News CartelThe News Cartel
    What's Hot

    Nitrro Bespoke Fitness Powai’s 6th Anniversary Was a Stellar Celebration of Strength & Style Spearheaded by Prabodh V. Davkhare

    July 5, 2025

    Unity for Growth: Leaders Unite for a Developed India Vision

    July 5, 2025

    Sarvajanik University Represents India at Prestigious 19th World Sanskrit Conference in Nepal

    July 5, 2025
    Facebook Twitter Instagram
    The News CartelThe News Cartel
    • Home
    • News
      • Business
      • Education
      • Entertainment
      • Health
      • National
      • Lifestyle
      • Technology
      • World
    The News CartelThe News Cartel
    Home»Business»121 Finance Acquires AcceptMyInvoice.com to Remove Friction in Trade Credit for MSMEs
    Business

    121 Finance Acquires AcceptMyInvoice.com to Remove Friction in Trade Credit for MSMEs

    Shruti JoshiBy Shruti JoshiOctober 3, 2024No Comments2 Mins Read
    Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    New Delhi [India] October 3: 121 Finance Pvt. Ltd., India’s largest independently owned NBFC-Factor, has announced a strategic acquisition of AcceptMyInvoice.com (AMI) for an undisclosed sum. This acquisition will strengthen 121 Finance’s commitment to simplifying Trade Credit, while accelerating its growth through customer acquisition and new value-added services.

    AcceptMyInvoice.com is a one-of-a-kind platform that enhances B2B trade credit by addressing its pain points like chances of friction and disputes through efficient Invoice Acceptance and Receivable Management. With a current yearly volume of over ₹600 crores tied up in B2B Trade Credit, AMI’s innovative model allows businesses to onboard their buyers and debtors, collect PODs and invoices, and get acceptances against those receivables. AMI can onboard multiple lenders, trade credit insurance companies and automate accounts receivables, creating a seamless B2B trade experience for SMEs and MSMEs.

    By integrating AMI into its operations, 121 Finance will further enhance its robust suite of digital trade finance solutions, including Trade Credit Finance, Factoring Finance, Reverse Factoring, and Receivable Finance. This acquisition will strengthen their existing tech stack and open new areas for customer acquisition. As part of the Digital Public Infrastructure, 121 Finance can set up value-added products and serve as a fully integrated Technology Service Provider for OCEN (Open Credit Enablement Network). This acquisition positions 121 Finance as a leader in the digital transformation of Trade Credit Finance, offering solutions that foster trust and transparency in B2B trade.

    Dr. Ravi Modani, Founder and CEO of 121 Finance, said, “In the era of Digital Public Infrastructure, we are committed to simplifying access to trade finance for the unorganised sector. This acquisition strengthens our ability to bridge the trade finance gap by addressing the lack of credit due to lack of transparency at the bottom of the pyramid. By making the process more transparent and efficient, we aim to empower SMEs and MSMEs to thrive.”

    121 Finance and AMI together will complement India’s Trade Credit Ecosystem, much like key government initiatives such as OCEN, Indian Banks Digital Infrastructure Company, GSTN, PSL Association of India, and Supply Chain Enabling FinTechs, all of whom aim to make access to trade credit easier and more efficient for SMBs across the country.

    If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

    Business
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleYanolja Cloud Solution Strengthens Global Presence with New High-Tech Headquarter
    Next Article Healing Hospital Chandigarh Achieves Life-Changing Spinal Correction Surgery for 30-Year-Old Patient
    Shruti Joshi
    • Website

    Related Posts

    Nitrro Bespoke Fitness Powai’s 6th Anniversary Was a Stellar Celebration of Strength & Style Spearheaded by Prabodh V. Davkhare

    July 5, 2025

    This AI Startup Is Turning India’s Hiring Chaos into Quick Commerce

    July 5, 2025

    Synonym for Gearless Elevator Machine in India – Tectronics Techworld Pvt Ltd

    July 4, 2025
    Add A Comment

    Comments are closed.

    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    [fluentform id="4"]
    Advertisement
    Facebook Twitter Instagram Pinterest YouTube
    Top Insights
    Get Informed

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    [fluentform id="4"]
    © 2025 The News Cartel.
    • Home

    Type above and press Enter to search. Press Esc to cancel.