PE Fund Investments
Fintech platform M1xchange raises Rs.38-Cr from Beenext, IndiaMART ; SIDBI VC exits
Gurugram-based Trade Receivables Discounting System (TReDS) platform M1xchange, promoted by Mynd Solutions, has raised INR 38 crore from its existing investors B2B platform IndiaMART and venture capital fund Beenext for an additional 3.4% and 1.99% stake respectively. The deal also marks the exit of M1xchange's early investor India Opportunities Fund promoted by SIDBI Venture Capital. Global VC fund Mayfield and Amazon are other existing investors in the company. M1xchange is a digital marketplace to sell receivables to banks/ financial institutions
From the Venture Intelligence PE-VC Deal Database: Between Mar-15 and Dec-20, M1xchange had attracted over USD 13 M from Beenext, Mayfield and M1xchange. In Dec-21, SIDBI VC - which invested first in 2015 - made a part exit as part of the investment by IndiaMART.(Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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