About M1 NXT
M1 NXT is a next-generation leading provider of working capital solutions specializing in cross-border transactions and finances for sales/purchases made on an open account basis. It is a Future-Ready, Secure, and Paperless online platform approved by International Financial Services Centres Authority (IFSCA) to set up the International Trade Financing Services Platform in GIFT City, Gujarat. Mynd IFSC Pvt Ltd, owners of M1NXT, is a wholly owned subsidiary of Mynd Solutions Pvt Ltd that has given India’s Central Bank-regulated digital market place-M1xchange.
M1xchange is a TReDS (Trade Receivables e- Discounting System of India) exchange that started in April 2017. M1xchange facilitates the financing of trade receivables (goods +services) of MSMEs from corporate buyers through ‘factoring’ or by financiers (Banks and NBFC). In a short span of time, M1xchange has onboarded 51 Banks/Financial Institutions, 1,200+ Corporates, and 15,000 + MSMEs and has facilitated discounting of invoices of more than Rs 40,000 Crores. (equivalent to USD 5 bn). Transactions on M1xchange have a legislative backup under the Factoring Regulation Act of 2011.