Jindal Stainless acquires 9.62% stake in M1Xchange

Gurugram-based Trade Receivables Discounting System (TReDS) platform M1Xchange has secured fresh funding in a round led by Jindal Stainless. As part of the investment, Jindal Stainless has acquired a 9.62% stake in the company, which includes both primary capital infusion and secondary share purchase.M1Xchange, backed by Amazon, facilitates invoice discounting and supply chain financing through a digital exchange, connecting MSMEs with banks and non-banking financial companies (NBFCs). Jindal Stainless sees this investment as a strategic move to enhance its digital supply chain financing capabilities.Deloitte India served as the exclusive financial advisor to Jindal Stainless for the transaction, while Dentons Link Legal provided legal counsel. Stratage Law Partners advised Mynd Solutions, the parent company of M1Xchange.