Supply chain financing platform Mynd Fintech, a subsidiary of RBI-licensed TReDS platform M1xchange, has acquired a 100% stake in C2FO India Technologies for an undisclosed amount, marking a significant consolidation in India's supply chain finance ecosystem.
Key Highlights
- Mynd Fintech acquired C2FO India, adding 140 clients and 100 employees to strengthen supply chain financing operations.
- Combined platform will process nearly ₹60,000 crore annually, expanding digital working capital financing solutions across industries.
The deal will help Mynd Fintech build on its market footprint by bringing into its fold around 100 employees and nearly 140 enterprise clients of C2FO India. The merged firm will enable the processing of transactions of about Rs 60,000 crore in the buyer and supplier financing segments, annually.
Expanded Reach in Working Capital Solutions
C2FO India focuses on providing on-demand working capital solutions and dynamic discounting options to help businesses expedite their supplier payments and boost liquidity. Currently, it has almost 200,000 suppliers and has a large customer base of Indian lending corporates including a number of the Nifty50 companies across various industries like pharmaceuticals, cement, manufacturing etc.
As part of the deal, Mynd Fintech will assume the management of C2FO India's digital financing platform. Both companies currently have a licence from the Reserve Bank of India (RBI) under its Trade Receivables Discounting System (TReDS) framework, with the former being C2FO India and the latter being C2FO USA. C2FO India is expected to surrender its TReDS licence post-integration.
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The acquisition will help Mynd Fintech build its digital supply chain finance business by bringing in technology platforms, client assets, and experience. The new network will provide businesses with quicker and more efficient working capital options, as well as strengthen its foothold in the rapidly expanding trade finance market in India, the company said.
