New Delhi, India – December 02, 2024: Nigeria’s top digital supply chain finance platform, Fiducia Data Services Limited (“Fiducia”), has strengthened its partnership with Mynd Fintech, a division of M1xchange and a prominent online lending marketplace. By 2025, the two businesses plan to take their creative supply chain finance solutions to additional markets throughout Africa and the Caribbean, building on a fruitful collaboration that began in 2022.
This collaboration aims to address critical liquidity challenges faced by SMEs in emerging markets. By leveraging M1xchange’s proven TReDS (Trade Receivables Discounting System) expertise, Fiducia launched its digital supply chain financing platform in Nigeria in 2023. The enhanced partnership will now bring tailored financing models to underserved regions, empowering SMEs to access affordable, scalable funding solutions in Africa and the Caribbean region.
Sundeep Mohindru, Promoter and Director of M1 Group, said: “Our partnership with Fiducia reinforces our commitment to revolutionizing supply chain financing in underserved markets. By merging M1xchange’s technological expertise with Fiducia’s market insights, we aim to deliver efficient and scalable financial solutions for SMEs across Africa and the Caribbean. This collaboration showcases India’s fintech leadership and its ability to address global SME financing needs, driving economic empowerment worldwide.”
Till date M1xchange has facilitated $14 billion in invoice financing in India. This initiative is a part of the successful roll out of the the digital supply chain financing model to international markets. The partnership between Mynd Fintech and Fiducia aims to combine cutting-edge technology with deep market expertise, fostering trade, improving liquidity, and enhancing operational efficiency for SMEs.
Chukwuka Amadife, Chief Operations Officer of Fiducia, said: “This partnership marks an exciting chapter in Fiducia’s growth. Having successfully established a digital marketplace in Nigeria, we are now set to unlock new opportunities for SMEs in Africa and the Caribbean. Together with Mynd Fintech, we are equipped to drive innovation, enhance digital resilience, and deliver sustainable financial solutions tailored to the unique needs of businesses in emerging markets.”
