M1xchange raises $4.7m from investors


India’s TReDS platform M1xchange, promoted by Mynd Solutions, has raised Rs 38 crores ($4.7m) from its existing investors B2B platform IndiaMART and venture capital fund Beenext for an additional 3.4 per cent and 1.99 per cent equity stake respectively. The deal also marks the exit of M1xchange’s early investor India Opportunities Fund by SIDBI Venture Capital, the VC arm of SIDBI. Global VC fund Mayfield and Amazon are other existing investors in the company.

M1xchange said that as of October 31, 2022, it has discounted more than Rs 36,000 cr ($4.4m) to over 13,500 MSME Indian suppliers.



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Posted on Nov 15, 2022
Region: India
invoice discounting
TReDS, invoice discounting, SME finance, M1xchange, Beenext, India Opportunities Fund, SIDBI, Mayfield, Amazon, Sundeep Mohindru, Mahendra Lodha