SIDBI deploys MonetaGo’s invoice validation system

By Milan Rojan

India’s Small Industries Development Bank of India (SIDBI) has deployed MonetaGo’s Secure Financing solution across its GST-Sahay invoice-based financing platform following a three-month pilot.

The deployment has expanded SIDBI’s partnership with FinTech infrastructure provider MonetaGo and has been aimed at strengthening invoice validation across the bank’s credit platform. GST-Sahay has supported the full credit lifecycle, from loan origination through to repayment.

MonetaGo has said Secure Financing has been used to validate invoices financed through India’s Trade Receivables Electronic Discounting System (TReDS). The solution has also enabled invoice validation across other participating factoring platforms and lenders, including SBI Global Factors and India Factoring.

The latest deployment has built on an earlier partnership between SIDBI and MonetaGo. In November 2025, SIDBI partnered with the FinTech to implement its digital public infrastructure (DPI) technology, with the bank stating that the solution would help “de-risk trade” and “safeguard micro, small and medium-sized businesses (MSMEs) access to credit”.

Secure Financing has been designed as a trade finance registry system that can help identify duplicate financing and support the validation of trade-related transactions across financial institutions.

The deployment has come as Indian lenders and financial institutions have increasingly adopted digital infrastructure to improve credit processes for MSMEs and reduce risks associated with invoice-based lending.

Founded in 1990, SIDBI has been established as India’s principal financial institution for promoting, financing and developing the MSME sector. The bank has operated through 141 branches across the country and has managed total assets of approximately $66.4bn (INR632,378 crore).

The integration has further expanded the use of digital infrastructure within India’s trade finance ecosystem, as lenders and financing platforms have sought to improve transparency, reduce duplication and streamline access to working capital for MSMEs.