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Polytrade finance, lending platform providing working capital to Small and Medium Enterprises (SMEs) using crypto liquidity, has announced the launch of its much-awaited Mainnet. The launch is touted as a significant step as it would harness huge liquidity in the crypto world to directly support small businesses across the globe.

IIT-Bombay graduate Piyush Gupta founded Polytrade in 2014 to support small businesses by providing working capital to those who were struggling for finances.

As per the industry data, the unmet demands of working capital for SMEs in India attunes to more than Rs. 2,200 crore. The launch of Polytrade Mainnet has opened up a supplementary source of financing for these SMEs by creating a blockchain-based decentralized protocol. Since the starting of its operations, Polytrade has successfully managed to finance over 3,700 crore worth of invoices since 2014 and the launch of Mainnet will further spur the availability of finances to the SMEs.

Gupta said, “We are extremely happy to announce the launch of our mainnet that will provide working capital to SMEs. Our vision is to ensure that the small businesses that have been struggling to get the required finance never face such a shortage."

He added, “India's SMEs will be key to achieving Prime Minister Narendra Modi's objective of making the country Atmanirbhar and a $ 5 trillion economy. Polytrade will ensure that these small enterprises have the working cash to achieve their goals."

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