M1xchange Raises $10 Million to Boost Supply Chain Financing for MSMEs
Supply chain financing platform M1xchange has secured $10 million (approximately INR 84 crore) from investment firm Filter Capital through a secondary transaction. Founded by Sundeep Mohindru and Vivek Misra, M1xchange operates as a TReDS (Trade Receivables Discounting System) platform, facilitating financing for Micro, Small, and Medium Enterprises (MSMEs) based on their invoices and bills.
The funding will be utilized to enhance M1xchange’s digital supply chain capabilities. The platform has already demonstrated significant traction, having discounted invoices and bills worth INR 1.7 lakh crore to date. This recent investment from Filter Capital underscores the growing importance of digital supply chain financing solutions for MSMEs in India.
M1xchange’s platform addresses a critical need in the MSME sector by providing timely access to working capital. By leveraging technology to facilitate invoice discounting and bill financing, M1xchange helps businesses maintain liquidity and support their operational needs.
The deal reflects the ongoing interest in fintech solutions that address the financial needs of MSMEs. As the Indian economy continues to evolve, platforms like M1xchange are playing an increasingly vital role in supporting business growth through innovative financial solutions.
