Polytrade launches Mainnet to provide working capital to SMEs using crypto-liquidity

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polycommerce finance, a DeFi lending platform providing working capital to small and medium enterprises (SMEs) has launched Mainnet.

Polytrade was founded by IIT-Bombay graduate Piyush Gupta in 2014 to support small businesses by providing working capital to those who had financial difficulties for a myriad of reasons, including a lack of understanding of certain instruments trade finance, lack of collateral, high cost. borrowing and the exhaustion of credit limits.

According to industry data, unmet demands for working capital for SMEs in India is over Rs. 2,200 crores. The launch of Polytrade Mainnet has opened up an additional source of funding for these SMEs by creating a blockchain-based decentralized protocol. Since the start of its operations, Polytrade has managed to finance more than Rs. 3,700 crore in invoices since 2014 and the launch of Mainnet will further boost the availability of finance for SMEs.

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Piyush Gupta, MD and Founder, Polytrade, “We are extremely pleased to announce the launch of our mainnet which will provide working capital to SMEs. such a shortage.” He also adds, “Indian SMEs will be key to achieving Prime Minister Narendra Modi’s goal of making the country Atmanirbhar a $5 trillion economy. Polytrade will ensure these small businesses have the necessary cash to achieve their goals.