Mumbai (Maharashtra) [India], February 21: Polytrade finance, a Decentralized Trade finance platform backed by Blockchain technology, has been awarded the “Best Financial Institution of the Year” for supporting & empowering SMEs. The esteemed award was presented to Piyush Gupta, Founder and CEO, Polytrade, by Shri Bhagat Singh Koshyari, Hon’ble Governor of Maharashtra at Rajbhavan, in the presence of many prominent personalities. The Award ceremony was jointly convened by the SME Chamber of India & Maharashtra Industrial and Economic Development Association on February 13, 2022.
Polytrade was founded in 2014 by IIT-Bombay graduate Piyush Gupta to support Indian SMEs struggling for working capital for a myriad of reasons, including lack of understanding around some trade finance instruments, lack of collateral, high cost of borrowing, and exhaustion of credit limits.
Polytrade platform aims to transform the traditional Trade finance industry by providing SME borrowers access to low interest and swift financing by freeing up the critical working capital tapped in the crypto universe. Polytrade aims to boost the business growth of SMEs where liquidity is not a hindrance.
Mr. Piyush Gupta, Founder & CEO, Polytrade, “We are absolutely honored to receive this recognition. This award will further drive us on our quest to transform the Trade Finance industry with new edge technology and empower the SMEs in India.” Mr. Chandrakant Salunkhe, Founder & President, SME Chamber of India, “Polytrade platform gives a holistic solution to the SMEs by providing easy access to working capital thereby, empowering the SME sector of India.
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