The Reserve Bank of India granted approval to Mynd Solutions Pvt Limited to set up and operate the TReDS platform named M1xchange, the first trade receivable exchange in India. M1xchange has digitally transformed the process of gaining access to working capital for MSMEs via invoice discounting through multiple financiers. It helps MSMEs to get their funds in quick time to control their financial health and allow them to focus on their business growth. M1xchange provides a digital platform that connects MSMEs and their buyers to provide cash flow finance at competitive rates through an open bid process via multiple financiers. Financing on M1xchange is “Without Recourse” to the MSME supplier as per RBI guidelines.
