According to businessreviewlive.com, supply chain financing platform Mynd Fintech, a subsidiary of M1xchange, has acquired C2FO India for an undisclosed amount.
Strategic consolidation in India’s SCF market
The acquisition strengthens Mynd Fintech’s position in India’s rapidly growing supply chain finance (SCF) market. Under the agreement, approximately 100 employees and 140 clients from C2FO India will join Mynd Fintech’s operations. As a result, the combined entity is expected to process nearly ₹60,000 crore worth of annual transactions across both buy-side and sell-side financing — a figure confirmed by Sundeep Mohindru, chief executive officer of M1xchange.
This transaction volume represents a substantial scaling of operational capacity in India’s digital lending and working capital finance ecosystem. The integration brings together two RBI-licensed Trade Receivables Discounting System (TReDS) platforms: M1xchange, which operates as a licensed TReDS platform, and C2FO, which runs its own C2TReDS platform under the same regulatory framework. Post-acquisition, C2FO may surrender its TReDS licence, enabling Mynd Fintech to absorb its technology infrastructure, workforce, and client network.
Expanded reach and supplier impact
C2FO India Technologies, a subsidiary of US-based C2FO, specializes in on-demand working capital solutions, dynamic discounting, and invoice financing. Its platform serves nearly 50% of the Nifty50 companies and supports the supply chain financing needs of approximately 200,000 suppliers across multiple sectors including cement, pharmaceuticals, and manufacturing.
Basant Kaur, country head of C2FO, emphasized the company’s deep penetration within India’s corporate ecosystem, noting its commitment to improving supplier liquidity through digital financing solutions. The platform enables vendors to access affordable working capital and receive early invoice payments without complicated documentation or hidden charges — a key differentiator in India’s fragmented SME finance landscape.
Based in Gurugram, Mynd Fintech leverages the RBI-licensed M1xchange TReDS platform to deliver automated, off-balance-sheet, and unsecured working capital solutions for enterprises, suppliers, and financial institutions. The acquisition aligns with its long-term growth strategy by combining complementary technologies, expanding its client portfolio, and reinforcing leadership in trade finance, invoice discounting, and working capital financing segments.
Technology-driven acceleration of business payments
The integration positions Mynd Fintech to deliver faster, technology-driven financing solutions across India. By consolidating operational capabilities, technology infrastructure, and an extensive customer base, the company aims to improve supplier financing efficiency and accelerate the digital transformation of business payments — a priority aligned with India’s broader national fintech adoption goals.
This deal reflects increasing industry consolidation in India’s fintech sector, where digital lending and supply chain finance platforms are seeing rapid adoption. According to the source, the combined entity will now serve a significantly broader spectrum of corporate buyers and their extended supplier networks — spanning over 200,000 suppliers and reaching into high-value verticals such as pharmaceuticals and cement. The acquisition occurred ahead of July 4, 2026, with formal announcement published on July 3, 2026.
“The combined entity will process ₹60,000 crore worth of transactions annually on both the buy and sell side.” — Sundeep Mohindru, chief executive officer, M1xchange
The move also underscores the maturing of India’s TReDS ecosystem, where regulatory clarity from the Reserve Bank of India has enabled scalable, interoperable invoice financing models. Unlike traditional bank-led credit lines, these platforms offer real-time, data-driven decisioning — reducing approval times from days to minutes for many suppliers. With C2FO India’s established presence among large corporates and Mynd Fintech’s embedded distribution via M1xchange, the merged operation gains immediate scale and credibility in both public and private sector procurement finance.
Source: businessreviewlive.com
Compiled from international media by the SCI.AI editorial team.
