M1xchange

company

About

M1 an online exchange for TReDS set up under the approval RBI to facilitate discounting of invoices on a PAN India basis.

  • 51 - 100

Details

Last Funding Type
Secondary Market
Last Funding Money Raised
₹380M
Industries
Finance,Financial Exchanges,Financial Services,FinTech
Founded date
Apr 1, 2017
Number Of Employee
51 - 100
Operating Status
Active

M1’s Trade Receivables Discounting System “TReDS” is an online exchange being set up under the approval of Reserve Bank of India (RBI) to facilitate discounting of invoices and Bills of exchange on a PAN India basis. Mynd Online National Exchange has been launched in April 2017, to set-up and operate TReDS under the Payment and Settlement System (PSS) Act 2007.

Funding Rounds

Number of Funding Rounds
Total Funding Amount
3
₹704M $10M
M1xchange has raised a total of ₹704M $10M in funding over 2 rounds. Their latest funding was raised on Nov 15, 2022 from a Secondary Market round.
Announced Date Round Money Raised Number of Investors Lead Investors Post Valuation
Nov 15, 2022 Secondary Market ₹380M 1 IndiaMART Detail
Nov 29, 2021 Secondary Market ₹324M 1 IndiaMART Detail
Apr 15, 2021 Series Unknown $10M 1 Amazon Detail

Investors

Number of Lead Investors
Number of Investors
3
2
M1xchange is funded by 2 investors. IndiaMART and Amazon are the most recent investors.
Investor Name Lead Investor Funding Round
IndiaMART Yes Secondary Market
Amazon Yes Series Unknown