Think Big Solutions to launch TREDX

Think Big Solutions Ltd, a fintech company, will launch Bangladesh's first integrated digital invoice auction platform, TREDXonline, which will bring together financiers, corporates, and their suppliers onto a single platform to create a win-win-win value proposition.

TREDX will facilitate online, real-time transactions between suppliers with approved invoices and financial institutions keen on discounting these invoices and reducing cost across the entire ecosystem for all parties involved, according to a press release.

The introduction of TREDX will bring several benefits to the factoring market in Bangladesh.

Suppliers will get the best discount rates due to the participation of multiple financiers in the auction of the invoices, which will particularly benefit micro, small and medium enterprises.

Financiers will get access to a larger pool of approved and authenticated invoices at low operational costs, while corporates will lower their account payables costs owing to increased transparency and their ability to provide their suppliers with a lower costs of financing.

The founders of the fintech venture are Abul Kasem Khan, a noted entrepreneur, M Masrur Reaz, an economist, and Raja Debnath, a supply chain finance expert and fintech entrepreneur.

TREDX will initiate its commercial operations within the next four months. The company is partnering for technology with Veefin Solutions, a global leader in SCF technology, said the press release.