New Delhi, June 25 -- Tier-II, Tier-III and smaller business centres are driving formal receivables financing in India, accounting for 71 percent of MSMEs on the M1xchange TReDS platform and 67 percent of transaction volume, according to its first Working Capital Pulse Report.

The findings underscore the growing reach of digital financing and formal credit access beyond metro markets.

M1xchange Expands Reach Across Emerging Business Centres

According to M1xchange, its network expanded to more than 9,000 pin codes across over 2,500 cities in FY26, with nearly 2,000 new pin codes added during the year, reported the Economic Times.

Emerging business centres such as Kollam, Malappuram, Kannur, Thrissur, Jammu, Daman, Aizawl, Kargil and Ba...