Mynd Fintech, part of the M1xchange platform and an RBI-licensed TReDS operator, has acquired C2FO India Technologies, integrating its employees, clients, and platform to boost its supply chain financing footprint.
- Mynd Fintech is an RBI-approved TReDS operator under M1xchange.
- C2FO India processes early payments with 140 clients and 100 employees.
- Combined entity expects Rs 60,000 crore in annual transactions.
What happened
Mynd Fintech, a subsidiary of M1xchange, has acquired 100% ownership of C2FO India Technologies for an undisclosed amount. This deal brings nearly 100 C2FO employees and approximately 140 clients into Mynd Fintech’s operations, creating a larger and more integrated supply chain financing platform.
Both entities are licensed by the Reserve Bank of India to operate under the Trade Receivables Electronic Discounting System (TReDS) framework, which facilitates financing for MSMEs. Following the acquisition, C2FO India is expected to surrender its TReDS license, consolidating all activities under Mynd Fintech's M1xchange platform.
Why it matters
This acquisition marks a significant consolidation in the Indian supply chain finance market, combining the technological and client assets of two RBI-approved platforms to better serve MSMEs and large corporates. Mynd Fintech’s CEO highlighted that the merged entity will handle transactions worth Rs 60,000 crore annually across buyers and sellers, a notable increase in scale.
C2FO India’s global parent, Pollen Inc., is a leading provider of early payment solutions worldwide, processing around $500 billion in payments annually. The integration allows Mynd Fintech to leverage C2FO’s platform, expertise, and client relationships, enhancing its competitive edge in the trade receivables financing sector.
What to watch next
Market observers will be keen to see how quickly Mynd Fintech integrates C2FO India’s business and expands its client base, particularly among Nifty50 corporations and their supplier networks. C2FO had a presence with about 1,300 sellers, while M1xchange’s ecosystem included over 87,000 sellers as of May 2026.
Stakeholders should monitor regulatory developments and emerging market dynamics in TReDS platforms, including whether further consolidations occur and how these platforms innovate to meet the growing demand for MSME financing through early payment solutions.