Supply chain financing platform Mynd Fintech, a subsidiary of M1xchange, has acquired fintech company C2FO India for an undisclosed amount. The strategic acquisition strengthens Mynd Fintech’s position in India’s rapidly growing supply chain finance (SCF) market while expanding its customer base, workforce, and transaction capabilities.
Under the acquisition agreement, approximately 100 employees and 140 clients from C2FO India will join Mynd Fintech’s operations. Consequently, the combined entity will process nearly ₹60,000 crore worth of annual transactions across both the buy-side and sell-side financing ecosystem, significantly enhancing its presence in the digital lending and working capital finance market.
M1xchange operates as a Reserve Bank of India (RBI)-licensed Trade Receivables Discounting System (TReDS) platform that facilitates invoice financing for businesses. Similarly, C2FO operates C2TReDS under the same regulatory framework. However, following the acquisition, C2FO may surrender its TReDS licence, allowing Mynd Fintech to operate C2FO India’s platform while integrating its technology, employees, and customer network.
C2FO India Technologies specializes in on-demand working capital solutions, dynamic discounting, and invoice financing for businesses. As a subsidiary of the US-based C2FO, the company accelerates invoice payments for suppliers operating across more than 180 countries, helping businesses improve cash flow and strengthen supply chain operations.
Sundeep Mohindru, chief executive officer, M1xchange, said, “The combined entity will process ₹60,000 crore worth of transactions annually on both the buy and sell side.” However, he did not disclose additional financial details related to the acquisition.
The C2FO India marketplace enables vendors to access affordable working capital while receiving early invoice payments without complicated documentation or hidden charges. Moreover, the platform serves nearly 50% of the Nifty50 companies and supports the supply chain financing requirements of approximately 200,000 suppliers across multiple industries, including cement, pharmaceuticals, manufacturing, and several other sectors.
Basant Kaur, country head, C2FO, said that the company currently serves around 50% of the Nifty50 corporations and manages the supply chain financing needs of nearly 200,000 suppliers across sectors such as cement, pharmaceuticals, and other industries. She highlighted the company’s extensive reach within India’s corporate ecosystem and its commitment to improving supplier liquidity through digital financing solutions.
Based in Gurugram, Mynd Fintech operates as a leading digital lending marketplace focused on supply chain finance. As part of the Mynd Group, the company leverages the RBI-licensed M1xchange TReDS platform to offer automated, off-balance-sheet, and unsecured working capital solutions for enterprises, suppliers, and financial institutions.
Furthermore, the acquisition reinforces Mynd Fintech’s long-term growth strategy by combining complementary technologies, expanding its client portfolio, and strengthening its leadership in the trade finance, invoice discounting, and working capital financing segments. The integration also positions the company to deliver faster, technology-driven financing solutions to businesses across India while supporting the country’s growing digital financial ecosystem.
As India’s fintech sector continues to witness rapid adoption of digital lending and supply chain finance platforms, the acquisition reflects the increasing consolidation within the industry. By combining operational capabilities, technology infrastructure, and an extensive customer base, Mynd Fintech aims to enhance efficiency, improve supplier financing, and accelerate the digital transformation of business payments.
