M&A

M&A

Supply chain financier M1xchange buys working capital platform C2FO India

Economic Times  

Gurugram-based supply chain financing platform Mynd Fintech , a subsidiary entity of M1xchange, has acquired a 100% stake in Noida-headquartered C2FO (Collaborative Cash Flow Optimisation) India Technologies. As a part of this deal, C2FO India’s around 100 employees and its base of 140 Indian clients will become part of Mynd Fintech’s supply-chain financing operations.M1xchange is an RBI-licensed Treds (Trade Receivables Electronic Discounting System) entity, and C2FO runs C2Treds, which also has a similar regulatory licence to operate in India. C2FO India’s parent company, Pollen (C2FO US), is a global player in early-payment solutions for small businesses processing around USD 500 billion in payments across the US, Europe and other markets.The combined entity will process 60,000 crore worth of transaction volumes annually on both the buy and sell side of business transactions.