Acquisition · Financial Services
Mynd Fintech acquires C2FO India for undisclosed sum
By Startup Enthusiast ·
- Date
- Company
- Mynd Fintech
- What it does
- Supply chain financing platform
- Kind
- Acquisition
- Based in
- Gurugram
- Sector
- Financial Services
What they do
Mynd Fintech is a supply chain financing subsidiary of M1xchange based in Gurugram
What happened
It acquired 100% of C2FO India including 140 clients and ~100 employees
Why it matters
The deal combines TReDS platforms to manage Rs 60,000 crore annual transaction volume
The details
- Mynd Fintech has acquired 100% stake in C2FO India Technologies.
- The deal value remains undisclosed according to all sources.
- Approximately 100 employees transferred from C2FO India to Mynd Fintech.
- Around 140 clients moved from C2FO India to the acquiring company.
- Combined annual transaction volume reaches Rs 60,000 crore post-acquisition.
- C2FO India operates as a subsidiary of the US-based C2FO group.
- Regulatory responsibility consolidates under M1xchange after the acquisition closes.
- C2FO India may surrender its C2TReDS licence following the transfer.
About the business
- Mynd Fintech provides supply chain financing solutions to businesses.
- It operates as a subsidiary of M1xchange in Gurugram.
- M1xchange holds an RBI license for TReDS operations.
- C2FO India specialized in on-demand working capital services.
- Its marketplace accelerates invoice payments for suppliers globally.
- C2FO India served approximately 50% of Nifty50 companies.
- The supplier base included around 200,000 entities across sectors.
- Key sectors included cement and pharmaceuticals industries.
- The combined entity offers dynamic discounting products.
What happens next
- C2FO India might surrender its C2TReDS licence post-acquisition.
- Operations will consolidate under M1xchange regulatory framework.
The deal
- Type
- acquisition
Founders
- Sundeep Mohindru, Promoter and Director
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