SIDBI (Small Industries Development Bank of India) and MonetaGo have announced the go-live of MonetaGo's Secure Financing system on SIDBI's GST-Sahay Invoice Based Financing Platform, following completion of a pilot programme.
Extending invoice validation across factoring platforms
The deployment allows SIDBI to validate invoices financed through the Trade Receivables Discounting System (TReDS), while also enabling invoice validation across other participating factoring platforms and lenders, including SBI Global Factors and India Factoring. SIDBI said the deployment reflects its continued focus on strengthening secure, transparent, and optimal financing infrastructure for micro, small, and medium enterprises (MSMEs) in India.
Timeline of the deployment
The go-live follows SIDBI's announcement in November 2025 that it would adopt MonetaGo's Digital Public Infrastructure (DPI) technology. Following a pilot phase and three months of live production beginning in March 2026, Secure Financing has now been deployed across SIDBI's GST-Sahay lending operations for invoice-based financing.
SIDBI operates as India's principal development financial institution focused on the promotion, financing, and development of MSMEs, supporting financial inclusion and MSME participation in domestic and global value chains through its lending and development initiatives.
Company commentary
A company official at SIDBI described the implementation of Secure Financing as an important step in the institution's efforts to build a trusted and efficient MSME lending ecosystem, noting that the platform has strengthened confidence across SIDBI's GST-Sahay financing workflows and is intended to support faster, more informed lending decisions for both borrowers and financiers.
A company official at MonetaGo said SIDBI's deployment demonstrates that Digital Public Infrastructure can be implemented at scale within institutional lending environments, describing the deployment as reflecting the maturity of interoperable, standards-based infrastructure within India's financing ecosystem. A separate company official at MonetaGo said the deployment illustrates how DPI can strengthen institutional lending and support broader access to MSME finance following a period of stable production.
Broader context for MonetaGo's platform in India
MonetaGo's Secure Financing system has formed part of India's digital trade finance infrastructure since 2018. According to MonetaGo, the number of MSMEs receiving financing through Reserve Bank of India-supported platforms underpinned by its technology has increased by 319% since the start of 2023, which the company said reflects the broader impact of secure, interoperable infrastructure on access to MSME credit.
MonetaGo describes Secure Financing as a trade finance registry designed to prevent fraud related to invoices and other trade documents. According to the company, its solutions have been in production since 2018 and are used to prevent losses across the trade finance sector, with MonetaGo noting it was the first third-party service integrated into Swift's API-enabled infrastructure.
