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Transforming for Sustainability: Driving Impact and Value through Supply Chain Action
Jun 02, 2025
Overview
The Centre for Impact Investing and Practices (“CIIP”), a non-profit entity established by Temasek Trust, embarked on this report to study the role of Southeast Asian MSMEs in global supply chains.
Throughout the course of this study, CIIP engaged and sought the views of Khazanah Nasional Berhad as we have a shared interest in understanding the challenges faced by MSMEs in a world where sustainability considerations have become increasingly important. Yet, they are not getting any easier to navigate, especially for resource-stretched MSMEs.
This report is the second of a comprehensive two-part study, building on the foundational report prepared by CIIP and PwC Singapore, “It takes a community”: Enabling SME resilience in FMCG supply chains published in April 2024. The first report focused on how SMEs in the fast-moving consumer goods (FMCG) sector from Indonesia, Malaysia, and Singapore were addressing sustainability-related challenges.
This second report expands the scope by covering additional sectors namely consumer goods, food and beverage, electrical and electronics, and tourism, and extending the geographic reach to include Vietnam. Its objectives include to:
- Provide an overview across industry value chains and the critical role of MSMEs in SEA, including the current state of play, challenges faced, and potential opportunities particularly from sustainability trends
- Draw on qualitative and quantitative assessments, align on challenges and benefits of transforming supply chains towards ESG and impact, in the context of today’s macro conditions
- Highlight how industry stakeholders (corporates, financiers) can support MSMEs suppliers on their sustainability journey (e.g., supply chain innovation, financing)
- Share industry best practices on how to track and ensure impact accountability across the supply chain, including a proposing a possible standard core metrics set
- Illustrate how cutting-edge innovations can be leveraged to facilitate and scale this transformation
Published in May 2025, this study covers MSMEs from Indonesia, Malaysia, Singapore, and Vietnam. It includes perspectives from interviews with MNCs, industry associations, solution providers, and other key stakeholders, in addition to an MSME survey of over 3,500 MSMEs in the region.
Sustainable Supply Chains: Building Resilience in a Time of Disruption
This report presents findings from surveys of 3,512 MSMEs conducted between April to July 2024, complemented by qualitative insights from 22 roundtable discussions with 86 MSMEs across Indonesia, Malaysia, Singapore, and Vietnam. Additionally, interviews were conducted with 86 MNCs, solution providers, and enablers between September 2023 and March 2025.
With this deeper understanding of the challenges faced by MSMEs, this study identifies key challenges and opportunities in supporting MSMEs on their sustainability journeys, with recommendations across ecosystem actors. This report has the aim of strengthening business and supply chain resilience amidst changes in the global regulatory and trade environment.
This study offers clear indications of the promising investment opportunities and most successful business models and practices to accelerate the adoption of sustainable practices by MSMEs. Southeast Asia continues to be well-positioned to make strides in supply chain sustainability. Together, we can take action to ensure that these MSMEs are equipped to succeed in the evolving supply chain landscape.
Download the report here.
M1xchange, Revolutionizes MSME Financing in India with Digital TReDS Platform, Facilitating Over Rs 170,000 Crores in Invoice Discounting, joins the SME Finance Forum
May 09, 2025
Washington D.C, Apr 16th, 2025 – M1xchange revolutionizes MSME Financing in India with Digital TReDS Platform, Facilitating Over Rs 170,000 Crores in Invoice Discounting has joined the SME Finance Forum as the global membership network’s latest member. The 300+ members/affiliates of the Forum are SME financing experts operating in 190 countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
SME Finance Forum is delighted to welcome M1xchange. By enabling digital transactions that streamline the process from invoice raising to payment within 24 hours, M1xchange has significantly enhanced access to finance for MSMEs at competitive rates without the need for collateral. M1xchange's commitment to providing financing without recourse and transferring the risk of receivables to financiers is a testament to their dedication to empowering MSMEs and fostering their growth," said Qamar Saleem, Head of SME Finance Forum.
M1xchange is India’s leading TReDS (Trade Receivables Discounting) platform that started in April 2017. M1xchange facilitates the financing of trade receivables of MSMEs from corporate buyers through ‘factoring’ or ‘invoice discounting’ by financiers (Banks and NBFC). In a short span of time, M1xchange has onboarded 66+ Banks, 2500+ corporates, and 50,000+ MSMEs and has facilitated discounting of invoices of more than Rs 170,000 Crores. Transactions on the TReDS platform are fully digital and start when the MSME supplier of Goods & Services raises the invoice, and the buyer validates the same. This permits the financiers (Banks/ NBFCs) to bid against the verified and approved invoice. Once the supplier accepts the bid, the payment is processed in 24 hrs. and credited to the MSMEs bank account. Through this platform, M1xchange promises MSMEs greater access to finance at competitive rates and without providing any collateral. Further, the financing is without recourse. MSMEs pass on the risk of receivables to the financiers (NBFCs/Banks) by selling their receivables.
"We are honoured to be a member of the SME Finance Forum; its mission resonates with us, as it promotes innovation and financial inclusion for SMEs. At M1xchange, we have always believed in the power of technology and digital transformation in unlocking access to working capital for small businesses. Through this association, we look forward to learning from global peers, sharing best practices, and forging partnerships that can collectively accelerate the growth of SMEs worldwide. As a leading TReDS platform in India and with our recent expansion into global factoring, we are excited to contribute to the Forum’s mission and collaborate with like-minded leaders to shape the future of trade finance.M1xchange is a TReDS platform in India that facilitates receivables financing for MSMEs through a digital marketplace. It's subsidiary M1 NXT, an ITFS platform has expanded the trade finance services into global factoring to improve access to working capital for cross-border businesses.” said Sundeep Mohindru, Promoter and Director at M1xchange.
SME Finance Forum: Innovation & Partnership for MSMEs Growth
The SME Finance Forum, backed by G20 and IFC/World Bank, is the leading global network of 300+ members/affiliates operating in 190 countries. Network comprises of SME focused institutions providing and enabling finance and services- banks, non-banks financial institutions, fintech, payment platforms, development institutions, credit guarantee companies, insurers, investment funds, supply chain linked players, banking and SME associations, policy advocates, regulators, academia, consulting houses, knowledge aggregators.
Our member, affiliates, and associated stakeholders benefit from learning/replicating best practices from across the world, innovating new products for business growth, acquiring risk mitigation tools, establishing partnerships, attracting investors, and being recognized amongst a peer group of global innovators. Our products consist of “members only” solutions (like innovation hubs, solutions clinics, peer group networks, study tours, specialized tools and trainings, member portal repository, partnered initiatives) as well as public good services (200+ publications library, 500+ videos, webinars, newsletters, trainings, annual awards, annual event etc.)
Discover the SME Finance Forum members/affiliates:
About M1xchange
M1xchange is India’s leading TReDS (Trade Receivables Discounting System) platform, revolutionizing access to working capital for MSMEs. M1xchange provides a fully digital, transparent, and collateral-free mechanism for MSMEs to get paid faster by enabling invoice financing through competitive bidding by Banks and NBFCs.
To date, M1xchange has facilitated the financing of trade receivables worth over $21 billion, supporting a vibrant ecosystem of 50,000+ MSMEs across 2,200+ cities in India. It streamlines the receivables financing process—where suppliers upload invoices, buyers approve them, and financiers bid in real-time. Upon acceptance, funds are disbursed to MSMEs within 24 hours, without collateral and with no recourse—transferring the risk of default to buyers.
Built on a robust technology backbone, M1xchange is empowering small businesses with liquidity, improving supply chain efficiency, and contributing to India’s vision of a digitally inclusive economy. Its continued focus is to expand credit access for underserved segments while ensuring speed, transparency, and trust.
Building on this foundation, M1 NXT extends M1xchange’s mission to the global stage. As its wholly owned subsidiary, M1 NXT operates under the IFSCA framework at GIFT City, Gandhinagar, to offer international trade financing services for exporters and importers. Leveraging M1xchange’s trusted technology and MSME expertise, M1 NXT connects Indian businesses with a global network of financiers, enabling seamless access to cross-border working capital through export/import factoring, supply chain finance, and other receivables-based instruments—ensuring the same commitment to speed, transparency, and trust.
Learn more:
Website: https://www.m1xchange.com/
Facebook: https://www.facebook.com/M1xchange/
Twitter: https://twitter.com/M1xchange
Instagram: https://www.instagram.com/m1.xchange/
Fauree, UAE’s Leading Supply Chain Finance & Working Capital Solutions Provider, Joins SME Finance Forum
Apr 16, 2025
Washington D.C, March 12, 2025 – Fauree, UAE’s leading provider of supply chain finance and working capital solutions, has joined the SME Finance Forum as the global membership network’s latest member. The 300+ members/affiliates of the Forum are SME financing experts operating in 190 countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
"The SME Finance Forum is delighted to welcome UAE’s leading provider of supply chain finance and working capital solutions. It is with great pleasure that I welcome Fauree to the SME Finance Forum. Fauree's commitment to empowering SMEs through transparent, efficient, and sustainable solutions will significantly contribute to our shared goal of supporting SMEs globally," said Qamar Saleem, Head of the SME Finance Forum.
Fauree is a leading provider of supply chain finance and working capital solutions, leveraging technology to boost efficiency and cut costs. Fauree's Supply Chain Finance, empowers SMEs through transparent, efficient, and sustainable solutions. The cutting-edge platform supports local suppliers, fortifies supply chains, and fosters economic diversification and workforce development. By offering superior financing options and enhancing cash flow, Fauree enables businesses to flourish and significantly contribute to broader economic and social ICV policy objectives. Their cloud-based platform provides real-time reporting and customizable workflows, optimizing financial operations and working capital management. With an extensive suite of services—including supply chain financing, receivable financing, distributor finance, dynamic discounting, and Sharia-compliant products—Fauree meets diverse industry needs on a global scale.
"Our motivation to apply for SME Finance Forum membership stems from Fauree's commitment to revolutionizing financial solutions for small and medium-sized enterprises (SMEs). At Fauree, we are dedicated to enhancing financial accessibility and efficiency through innovative fintech solutions, and joining the SME Finance Forum aligns perfectly with our mission and strategic goals," said Mr. Azhar Tasadduq, Co-Founder & CEO of Fauree.
SME Finance Forum: Innovation & Partnership for MSMEs Growth
The SME Finance Forum, backed by G20 and IFC/World Bank, is the leading global network of 300+ members/affiliates operating in 190 countries. Network comprises of SME focused institutions providing and enabling finance and services- banks, non-banks financial institutions, fintech, payment platforms, development institutions, credit guarantee companies, insurers, investment funds, supply chain linked players, banking and SME associations, policy advocates, regulators, academia, consulting houses, knowledge aggregators.
Our member, affiliates, and associated stakeholders benefit from learning/replicating best practices from across the world, innovating new products for business growth, acquiring risk mitigation tools, establishing partnerships, attracting investors, and being recognized amongst a peer group of global innovators. Our products consist of “members only” solutions (like innovation hubs, solutions clinics, peer group networks, study tours, specialized tools and trainings, member portal repository, partnered initiatives) as well as public good services (200+ publications library, 500+ videos, webinars, newsletters, trainings, annual awards, annual event etc.)
Discover the SME Finance Forum members/affiliates:
About Fauree
Fauree is a leading provider of supply chain finance and working capital solutions, leveraging technology to boost efficiency and cut costs. Fauree's Supply Chain Finance, empowers SMEs through transparent, efficient, and sustainable solutions. Their cutting-edge platform supports local suppliers, fortifies supply chains, and fosters economic diversification and workforce development. By offering superior financing options and enhancing cash flow, Fauree enables businesses to flourish and significantly contribute to broader economic and social ICV policy objectives. Their cloud-based platform provides real-time reporting and customizable workflows, optimizing financial operations and working capital management. With an extensive suite of services—including supply chain financing, receivable financing, distributor finance, dynamic discounting, and Sharia-compliant products—Fauree meets diverse industry needs on a global scale.
Learn more:
Website: https://www.fauree.com/
Linkedin: Fauree
Vayana, India's largest Supply Chain Finance Network, joins the SME Finance Forum
Apr 07, 2025
Washington D.C, April 7, 2025 – Vayana, India's largest Supply Chain Finance Network has joined the SME Finance Forum as the global membership network’s latest member. The 300+ members/affiliates of the Forum are SME financing experts operating in 190 countries who share the common goal of expanding access to finance to small businesses worldwide through knowledge exchange and innovation.
SME Finance Forum is delighted to welcome India's largest Supply Chain Finance Network. It is with great pleasure that I welcome Vayana to the SME Finance Forum. Vayana’s pioneering efforts in operationalizing the ITFS platform demonstrate their dedication to bringing Supply Chain Finance to every business. Vayana’s commitment to providing digital, convenient, and affordable access to credit for corporates and their trade ecosystems is a testament to their leadership in the supply chain finance sector," said Qamar Saleem, Head of SME Finance Forum.
Vayana is India's largest Supply Chain Finance platform offering a range of Trade credit and Trade enablement solutions for all the tiers of Supply Chains. Financing close to USD 40 Billion+ till date with over 3,00,000 enterprises across 3,000+ supply chains, Vayana is the preferred partner in supply chain finance. As an RBI licensed Payment Aggregator, Vayana operates one of India’s largest B2B payment platforms. Vayana connects corporates and their trade ecosystems to provide digital, convenient, and affordable access to credit for their payables and receivables. With its proprietary technology, Vayana has processed over 5 million financing transactions and offers a zero-change experience to customers. The network today spans across 600 cities and 2000+ pin codes in India and extends to 23 countries around the globe. To enable credit flow to deep tiers of the supply chains, Vayana also offers risk assessment and monitoring solutions for supply chains. The company is increasingly catering to the smallest of MSMEs in the long tail of supply chains.
“By joining the SME Finance Forum, Vayana aims to access valuable insights, resources, and partnerships that will help us better serve our clients and further our mission of enabling financial inclusion for SMEs. We are particularly interested in participating in the Forum's events and working groups, as well as accessing their research and knowledge resources to contribute to discussions and initiatives that support SMEs around the world.” says Vinod Parmar, Group CFO – Vayana.
SME Finance Forum: Innovation & Partnership for MSMEs Growth
The SME Finance Forum, backed by G20 and IFC/World Bank, is the leading global network of 300+ members/affiliates operating in 190 countries. Network comprises of SME focused institutions providing and enabling finance and services- banks, non-banks financial institutions, fintech, payment platforms, development institutions, credit guarantee companies, insurers, investment funds, supply chain linked players, banking and SME associations, policy advocates, regulators, academia, consulting houses, knowledge aggregators.
Our member, affiliates, and associated stakeholders benefit from learning/replicating best practices from across the world, innovating new products for business growth, acquiring risk mitigation tools, establishing partnerships, attracting investors, and being recognized amongst a peer group of global innovators. Our products consist of “members only” solutions (like innovation hubs, solutions clinics, peer group networks, study tours, specialized tools and trainings, member portal repository, partnered initiatives) as well as public good services (200+ publications library, 500+ videos, webinars, newsletters, trainings, annual awards, annual event etc.)
Discover the SME Finance Forum members/affiliates and LinkedIn:
About Vayana
Vayana is India's largest Supply Chain Finance platform offering a range of Trade credit and Trade enablement solutions for all the tiers of Supply Chains. Financing close to USD 40 Billion+ till date with over 3,00,000 enterprises across 3,000+ supply chains, Vayana is the preferred partner in supply chain finance. As an RBI licensed Payment Aggregator, Vayana operates one of India’s largest B2B payment platforms.
Vayana connects corporates and their trade ecosystems to provide digital, convenient, and affordable access to credit for their payables and receivables. With its proprietary technology, Vayana has processed over 5 million financing transactions and offers a zero-change experience to customers. The network today spans across 600 cities and 2000+ pin codes in India and extends to 23 countries around the globe. To enable credit flow to deep tiers of the supply chains, Vayana also offers risk assessment and monitoring solutions for supply chains. The company is increasingly catering to the smallest of MSMEs in the long tail of supply chains.
Vayana is India’s largest GSP (GST Suvidha Provider), facilitating GST, E-Way bill filing and E-invoicing for numerous corporates and lakhs of SMEs. This platform has processed over 8 billion GSP API calls, with zero downtime since its launch with 1 in every 4 e-invoices being generated through Vayana.
To help businesses assess risk in their distribution networks and supply chains, Rubix Data Sciences, a Vayana subsidiary, offers the award-winning Rubix ARMS™ Platform for monitoring credit, supplier, and counterparty risk of their customers, distributors, dealers, suppliers, and borrowers. 1300 corporates, banks, credit insurance companies, and fintechs depend on Rubix to annually assess and monitor the risk of over 300,000 businesses in India and overseas.
Furthering its objective of bringing Supply Chain Finance to every business, Vayana is one of the first entities to operationalise its ITFS (International Trade Finance Services) platform through Vayana TradeXchange at GIFT City, under the guidelines issued by International Financial Services Centres Authority (IFSCA).
Learn More:
Website: https://vayana.com/
Twitter: @VayanaOfficial
LinkedIn: Vayana
![Supply Chain Finance Innovation Hub - [Solutions Clinic]](/sites/default/files/styles/events_teaser/public/2025-07/Untitled%20%28320%20x%20150%20px%29%20%281%29_0.png?itok=55nEyHxC)
