Polytrade an agent of change in trade finance industry, helps SME borrowers gain access to funds
Polytrade, a decentralised trade finance platform backed by blockchain technology, has been awarded the ‘Best Financial Institution of the Year’ for supporting and empowering SMEs. The award was presented to Piyush Gupta, founder and CEO, Polytrade, by the Governor of Maharashtra, Bhagat Singh Koshyari, at Rajbhavan, in the presence of many prominent personalities.
The award ceremony was jointly convened by the SME Chamber of India and Maharashtra Industrial and Economic Development Association on February 13. Polytrade was founded in 2014 by Gupta, an IIT-Bombay graduate, to support Indian SMEs struggling for working capital due to numerous reasons, including lack of understanding around some trade finance instruments, lack of understanding around some trade finance instruments, lack of collateral, high cost of borrowing and exhaustion of credit limits.
Polytrade aims to transform the traditional trade finance industry by providing SME borrowers with access to low interest and swift financing by freeing up critical working capital tapped in the crypto universe. Polytrade aims to boost the business growth of SMEs where liquidity is not a hindrance.
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