TReDS platform M1xchange has raised $4.5 million (about Rs 33 crore) in funding from BEENEXT Asia, Singapore, and existing investor Mayfield. The funds will be used by the online trade exchange platform to expand its network across India and emerge as a comprehensive supply chain finance leader, a statement said. TReDS is an online mechanism for facilitating the financing of trade receivables of MSMEs through multiple financiers. It also enables discounting invoices of exchange of MSME sellers against large corporates.