OUR STORY

Overview

MYND FINTECH PRIVATE LIMITED (“Mynd Fintech”) was set-up in 2020 and is the third key business line of the Mynd Group. It was founded with a Vision to enable MSMEs to access efficient credit with best-in-class user experience. While these enterprises have a huge financing need, most financial institutions have found it a challenge to serve this need in view of the lack of a credible, scalable and efficient risk assessment model. Mynd Fintech is dealing with this challenge through a sharp focus on effectively leveraging public and private data and technology to develop digital risk algorithms that enable real time risk assessment of these enterprises with a high level of accuracy and ability to learn from each instance. Mynd Fintech is offering these enterprises a range of easy to access customized Supply Chain financing solutions to ensure that they remain focused on healthy scale-up of their business. We collaborate with multiple lending partners – Banks and NBFCs – to enable access to capital across a wide risk spectrum ensuring a win-win for all entities involved – the Large enterprises, associated MSME vendors or dealers, lending partners and Mynd Fintech.

Mynd Group

Mynd group has three other business lines – M1xchange, M1 NXT and Mynd Integrated Solutions – in addition to Mynd Fintech Private Limited.

M1xchange is one of India’s leading TReDS (Trade Receivable electronic Discounting System) platform that was licensed by the Reserve Bank of India (RBI) in 2015 to facilitate the discounting of invoices and bills of exchange of MSME vendors on a PAN India basis. “M1xchange has facilitated INR 65,000 Cr+ of invoice discounting, has 1,400+ Corporates, 20,000+ MSMEs and 55+ Banks registered on M1xchange.”

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M1 NXT (Next Generation Trade Finance) will help small and midsize businesses (SMEs) access working capital by auctioning invoices to a global network of institutional Financiers who compete to buy receivables through a real-time marketplace. The concept is an alternative to traditional factoring solutions targeting specific buyer-led programs. Bank-led platforms in specific countries (China, Singapore, UAE, etc.) have been met with some success but have not yet made an impact globally.

M1 NXT as a process will significantly change the way international trade is financed today for a better tomorrow. Moreover, due to the complexities of pandemic and rising inflation, M1 NXT will serve as a tool to de-risk the businesses globally.

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Mynd Integrated Solutions is a leading global service provider in business process and technology management, offering a broad spectrum of services in Finance and Accounting (FAO), Human Resource Outsourcing (HRO), Information Technology (IT) and Consulting. Established in 2002, Mynd Integrated offers services to 500+ clients Pan India, processes 5 Mn+ payslips and 10 Mn+ transactions every year.

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Meet the Team

Sundeep Mohindru

Board Member

Vivek Misra

Board Member

Anurag Chaturvedi

Co-Founder & CTO

Manish Arora

Senior Director

Radhesh Pandia

Sr. V P Business Development