Mynd Fintech, a supply chain financing platform and subsidiary of M1xchange, has acquired fintech firm C2FO India for an undisclosed amount.
As part of the transaction, approximately 100 employees and 140 clients from C2FO India will join Mynd Fintech. Following the integration, the combined business is expected to process around Rs 60,000 crore in annual transactions across both buyer- and supplier-side financing.
M1xchange operates a Trade Receivables Discounting System (TReDS) platform licensed by the Reserve Bank of India (RBI). C2FO India also holds an RBI-issued TReDS license through its C2TReDS platform, although the company is expected to surrender the license after the acquisition. The deal enables Mynd Fintech to take over the operation of C2FO India’s platform while integrating its workforce and customer base.
C2FO India Technologies provides on-demand working capital and dynamic discounting solutions for businesses. A subsidiary of U.S.-based C2FO, the company helps accelerate invoice payments for suppliers in more than 180 countries.
Its marketplace enables vendors to access lower-cost financing and receive early invoice payments without extensive documentation or hidden charges. C2FO India serves nearly half of the companies in the Nifty 50 index and supports the supply chain financing needs of approximately 200,000 suppliers across industries including cement, pharmaceuticals, and manufacturing.
Based in Gurugram, Mynd Fintech operates a digital lending marketplace focused on supply chain finance. Backed by the RBI-licensed M1xchange TReDS platform and part of the Mynd Group, the company provides automated, unsecured, and off-balance-sheet working capital financing solutions for businesses.
