Supply chain financing platform Mynd Fintech, a subsidiary of M1xchange, has acquired fintech company C2FO India for an undisclosed amount. As part of the acquisition, around 100 employees and 140 clients of C2FO India will become part of Mynd Fintech’s operations. The combined entity will process Rs 60,000 crore worth of transactions annually across the buy and sell sides. M1xchange is an RBI licensed TReDS (Trade Receivables Discounting System) platform. C2FO operates C2TReDS and also holds the same licence, which it may surrender after the acquisition. The deal will allow Mynd Fintech to operate C2FO India’s platform while also adding its employees and clients. C2FO India Technologies is a fintech company specializing in on demand working capital solutions and dynamic discounting for businesses. It operates as a subsidiary of the US based C2FO, accelerating invoice payments for suppliers in over 180 countries. The C2FO India marketplace allows vendors to access low cost capital and receive early invoice payments without complex paperwork or hidden fees. The company serves around 50% of the Nifty50 companies and supports the supply chain financing requirements of around 200,000 suppliers across sectors such as cement, pharmaceuticals, and others. Mynd Fintech is a Gurugram based digital lending marketplace specializing in supply chain finance (SCF). As part of the Mynd Group and powered by the RBI licensed TReDS platform M1xchange, it provides automated, off balance sheet, and unsecured working capital solutions. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
