Think Big Solutions Limited, a Fintech company, recently announced the launch of Bangladesh’s first digital invoice auction platform TREDXonline. It is currently working under the recently announced Bangladesh Bank regulations on Digital platforms for the local factoring market.
Factoring market of Bangladesh will enjoy several benefits with the introduction of TREDX. It will speed up the process of online, real time transactions among suppliers’ approved invoices. Financial Institutions that are interested in discounting invoices and reducing costs throughout the entire ecosystem will also be benefited.
Financiers, corporates and their suppliers will come onto a single platform that will increase the value proposition as well.
Abul Kasem Khan, entrepreneur and former president of Dhaka Chamber, Dr M Masrur Reaz, economist and entrepreneur and Raja Debnath, prominent supply chain finance expert and fintech entrepreneur are the notable founders of this innovative fintech firm.
Within the next four months TREDX will start its commercial operation. Veefin Solutions, a global leader in SCF technology, is collaborating with the company on their technology.