m1xchange is treading the right path for MSMEs with maximum Operation Financiers.

Basic Information

Gurugram, Haryana based M1xchange TReDS is a digital marketplace to sell the receivables to banks/NBFC set up under the approval of Reserve Bank of India (RBI) to facilitate the discounting of invoices and bills of exchange on a PAN India basis. M1xchange was launched on 7th April 2017 to service the finance needs of MSME across India. The exchange enables MSME to secure finances by converting their trade receivables into liquid funds, on without recourse basis. The exchange has hosted Nationalised, Private and Foreign banks to finance these receivables at most competitive rates with a unique model of bidding by the banks. Key participants in TReDS are Micro, Small & Medium Enterprises “MSME” (Suppliers), large Corporates including PSUs and Govt. Departments (Buyers) and Banks/NBFCs (Financiers). M1xchange aims to provide MSMEs Supply chain related cash flow finance at competitive rates through an open bid process via multiple financiers. Financing on M1xchange is “Without Recourse” to the MSME supplier as per RBI guidelines. M1xchange employs the latest technologies to ensure the authenticity of the underlying transactions. Their Investors: SIDBI Venture Capital Limited (SVCL), Mayfield and Beenext. See more

Legal Name

:

Mynd Solutions Private Limited

Headquarters

:

Gurugram, Haryana, India

Founding Date

:

2017

No. of Employees

:

41 to 60

Core Team

:
1.

Sundeep Mohindru

Founder & CEO

Funding

Total Funding

$4.5M

Investors

:

1.

Mayfield Fund

2.

SIDBI Venture Capital

3.

BEENEXT