Jindal Stainless Invests in M1Xchange, Secures 9.62% Stake in Latest Funding Round As part of the deal, Jindal Stainless has acquired a 9.62% stake in the company through a mix of primary and secondary transactions.
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Gurugram-based Trade Receivables Discounting System (TReDS) platform M1Xchange has raised fresh funding in a round led by Jindal Stainless, India's largest stainless steel manufacturer.
As part of the deal, Jindal Stainless has acquired a 9.62% stake in the company through a mix of primary and secondary transactions.
M1Xchange, backed by Amazon, operates a digital exchange that facilitates invoice discounting and supply chain financing, helping MSMEs access early payments. Instead of waiting for buyers to settle invoices, vendors can sell them at a discount on the platform and receive upfront cash, ensuring better liquidity.
Jindal Stainless views this investment as a strategic move to strengthen its supply chain financing capabilities. Managing Director Abhyuday Jindal highlighted the benefits: "This investment will empower our domestic and international channel partners and enhance liquidity, further strengthening our balance sheets."
M1Xchange's comprehensive suite of financing solutions, including TReDS for India, ITFS (GIFT City) for global markets, and Channel Finance through Mynd Fintech, will help Jindal Stainless and its partners scale operations more efficiently. "Our solutions will enhance growth and competitiveness across Jindal Stainless' supply chain ecosystem," said Sundeep Mohindru, Promoter and Director, M1Xchange.
Deloitte India acted as the exclusive financial advisor for the deal, while Dentons Link Legal and Stratage Law Partners provided legal counsel.
This investment marks a significant step in digitising supply chain financing and empowering MSMEs with faster access to working capital.
