Business Finance now as easy as Withdrawing Cash!
Reinventing Business Transactions
India's first Online Exchange for Receivables
M1xchange & NTPC join hands to change landscape for vendor payment ecosystem for PSUs.
M1xchange onboards Rashtriya Chemical & Fertilisers, to streamline their MSME supplier business.
ONGC signs agreement with M1xchange to support MSMEs.
Join the M1xchange Anniversary Live Webinar on 17th April 2018, between 12:00 pm- 12:45 pm.
7th December "M1xchange bags the 'Digital Solution of the Year' Award at the Express IT Awards"
6th December "M1xchange crosses Rs 100 Crore transaction value in its 7 month of operation"
7th April - Mynd Solution, launches one of India's first Online Trade Receivable Discounting Exchange Platform M1
M1xchange participated in Global Factoring Summit organised by ASSOCHAM in Mumbai.
M1xchange gets the green flag from RBI to initiate operations on the platform.
M1xchange completes it's first transaction worth 91Lacs with Indus Ind Bank.
is a welcoming step by the RBI to regulate the trade receivables between MSMEs, large corporations and financiers. This is beneficial not just for these individual players, but for the entire economy of the nation.
TReDS is an institutional mechanism set up in order to facilitate the financing of trade receivables of MSMEs from corporate buyers through invoice financing by multiple financiers. This step is deemed to augment the trade account receivable management of the micro small & medium enterprises.
MSMEs, despite their important role in the Indian economy continue to face constraints in obtaining adequate finance, particularly in their ability to convert trade receivables into liquid funds.
Corporates, Government Departments, PSU are the other key constituents of Mynd's TReDS platform. The corporates are the buyers who procure goods or services from MSME suppliers. When a corporate buyer deals in any trade with a seller, the suppliers raises an invoice with respect to the goods or services delivered.
Onboarding M1 brings down the processing costs, eliminate discrepancies and optimize the cash flow for smooth operations for the Corporates.
MSME suppliers who supply goods and services to buyers have always been at the receiving end of the inconvenient trade practices by large corporate houses and find it very hard to convert their trade receivables into liquid funds.
The Suppliers enjoy easy and quick discounting of invoices/bills at competitive rates. The financing is 'without recourse' to the MSME suppliers.
Financiers - Banks and NBFCs are the third pillar of the Trade Receivables Discounting System. The financiers have the task of bidding on invoices which have been uploaded by the seller and approved by the buyer.
Financiers get the opportunity to get quality assets in the MSME Space across a wide geography in minimal time, cost and effort.
The digital ecosystem created by M1xchange is fully aligned with our Bank`s objective of providing paperless trade solutions to customers. They have immensely helped our Bank book granular PSL assets and we have also successfully reduced the onboarding cost of the customer. Timely response and pro-active approach to resolving queries is the USP of M1Xchange. It provides a lot of comfort to the Bank.
Abhijit Kamalapurkar - IDFC Bank
M1xchange provides ease of operation with minimum documentation and quick receipt of funds. They have helped a lot in easing our working capital requirement and that too at a very competitive rates. Further, Team M1 has also been very helpful right from Day 1 - be it account opening, vendor onboarding, interest rates negotiations or any problem in daily transaction at the exchange. They have been there with us at every step.
M1 team - Great job done. Keep it up !!
Chandra Shekhar, CFO - Vectus
M1 has greatly simplified the digital exchange platform. Best of all, it integrates all the stakeholders, buyers, sellers and the banks.
We are highly impressed with the online trade receivables platform from M1, less paperwork, quick payments.
Rajesh Uttamchandani, Director - Syska Group