Acquisition Adds 140 Clients, 100 Employees and ₹60,000 Crore Annual Transaction Volume
Mynd Fintech, the supply chain financing arm of M1xchange, has acquired C2FO India for an undisclosed amount, strengthening its position in India’s fast-growing supply chain finance ecosystem. The acquisition will significantly expand Mynd Fintech’s customer base, technology capabilities, and transaction volumes while consolidating two RBI licensed Trade Receivables Discounting System (TReDS) platforms.
As part of the transaction, approximately 100 employees and 140 enterprise clients of C2FO India will join Mynd Fintech. Following the integration, the combined entity is expected to process around ₹60,000 crore worth of transactions annually across both the buyer and supplier financing ecosystem.
The acquisition marks an important consolidation move in India’s digital trade finance market, where demand for faster working capital solutions continues to rise among businesses of all sizes.
What Does the Acquisition Include?
The deal brings together two established players operating in India’s supply chain finance and trade receivables financing segment.
Under the agreement, Mynd Fintech will absorb C2FO India’s workforce, customer relationships, and operational platform.
The acquisition also enables Mynd Fintech to operate C2FO India’s TReDS platform, while C2FO is expected to eventually surrender its own Reserve Bank of India (RBI) licence following the completion of the integration.
With the combined customer base and technology infrastructure, the merged business is expected to create one of India’s largest digital supply chain finance platforms.
Strengthening the TReDS Ecosystem
Both Mynd Fintech and C2FO India operate under the Trade Receivables Discounting System (TReDS) framework regulated by the Reserve Bank of India.
TReDS platforms enable micro, small and medium enterprises (MSMEs) to receive faster payments on invoices by allowing banks and financial institutions to finance approved receivables.
By digitizing invoice financing, these platforms improve liquidity for suppliers while reducing working capital challenges across supply chains.
The acquisition strengthens M1xchange’s presence in this rapidly expanding market and increases its ability to serve both buyers and suppliers through a larger financing network.
The consolidation also reflects increasing maturity within India’s fintech infrastructure supporting business financing.
What Does C2FO India Bring?
C2FO India has built a strong presence in on-demand working capital solutions and dynamic discounting for enterprises.
The company operates as the Indian subsidiary of US based C2FO, a global fintech platform that accelerates invoice payments for suppliers across more than 180 countries.
Its marketplace enables businesses to access early invoice payments through simplified digital processes without lengthy documentation or hidden charges.
According to the company, it serves nearly 50% of the Nifty 50 companies and supports financing requirements for approximately 200,000 suppliers operating across sectors including cement, pharmaceuticals, manufacturing, and other industries.
This extensive enterprise network significantly strengthens Mynd Fintech’s market reach following the acquisition.
Mynd Fintech Expands Its Supply Chain Finance Platform
Based in Gurugram, Mynd Fintech specializes in digital supply chain financing (SCF) solutions.
As part of the Mynd Group, the company operates through the RBI-licensed M1xchange platform, providing automated, unsecured, and off-balance sheet working capital solutions for businesses.
Its digital platform connects buyers, suppliers, banks, and financial institutions, enabling faster access to working capital while improving cash flow management across supply chains.
The acquisition of C2FO India further enhances Mynd Fintech’s technology capabilities, customer relationships, and transaction scale, strengthening its position within India’s rapidly growing digital lending ecosystem.
What Does This Mean for India’s Fintech Sector?
The acquisition highlights growing consolidation within India’s fintech and trade finance industry as companies seek greater scale, broader customer networks, and stronger technology platforms.
Supply chain finance has emerged as one of the fastest growing segments within digital financial services, driven by increasing adoption among large enterprises and MSMEs seeking efficient working capital solutions.
By combining the strengths of Mynd Fintech and C2FO India, the merged entity is expected to deliver enhanced financing solutions while processing ₹60,000 crore in annual transactions.
The integration also strengthens India’s broader digital financial infrastructure by improving access to formal credit for suppliers and businesses across multiple industries.
As businesses continue shifting toward digital financing platforms, acquisitions such as this are expected to accelerate innovation, improve operational efficiency, and expand financial inclusion within India’s enterprise ecosystem.
With an expanded client base, stronger technology infrastructure, and significantly higher transaction volumes, Mynd Fintech is well positioned to play a larger role in the future of supply chain finance and working capital solutions in India.
