Mynd Fintech, a subsidiary of M1xchange and a leading digital lending marketplace, has deepened its collaboration with Fiducia Data Services Limited (“Fiducia”), Nigeria’s foremost digital supply chain financing platform. Building on a successful partnership established in 2022, the two companies will expand their innovative supply chain financing solutions to new markets across Africa and the Caribbean by 2025.
This collaboration aims to address critical liquidity challenges faced by SMEs in emerging markets. By leveraging M1xchange’s proven TReDS (Trade Receivables Discounting System) expertise, Fiducia launched its digital supply chain financing platform in Nigeria in 2023. The enhanced partnership will now bring tailored financing models to underserved regions, empowering SMEs to access affordable, scalable funding solutions in Africa and the Caribbean region.
Sundeep Mohindru, Promoter and Director of M1 Group, said: “Our partnership with Fiducia reinforces our commitment to revolutionizing supply chain financing in underserved markets. By merging M1xchange’s technological expertise with Fiducia’s market insights, we aim to deliver efficient and scalable financial solutions for SMEs across Africa and the Caribbean. This collaboration showcases India’s fintech leadership and its ability to address global SME financing needs, driving economic empowerment worldwide.”
Till date M1xchange has facilitated $14 billion in invoice financing in India. This initiative is a part of the successful roll out of the the digital supply chain financing model to international markets. The partnership between Mynd Fintech and Fiducia aims to combine cutting-edge technology with deep market expertise, fostering trade, improving liquidity, and enhancing operational efficiency for SMEs.
Chukwuka Amadife, Chief Operations Officer of Fiducia, said: “This partnership marks an exciting chapter in Fiducia’s growth. Having successfully established a digital marketplace in Nigeria, we are now set to unlock new opportunities for SMEs in Africa and the Caribbean. Together with Mynd Fintech, we are equipped to drive innovation, enhance digital resilience, and deliver sustainable financial solutions tailored to the unique needs of businesses in emerging markets.”