The partnership's first transaction financed a Hyderabad exporter supplying goods to a Fortune 500 buyer in the USA and Mexico.
FinTech BizNews Service
Mumbai, March 16, 2026: M1NXT, leading IFSCA authorized International Trade Financing Services (ITFS) Platform, has announced their partnership with YES BANK, to provide cross-border factoring solutions, beginning with services for exporters in India. Under this partnership YES BANK has executed its first export finance transaction successfully, to a Hyderabad-based engineering component manufacturer and exporter, for goods supplied to a Fortune 500 buyer in the USA and their subsidiary in Mexico.
The partnership would potentially enable over 1500 anchors registered on M1xchange TReDS platform to gain access to export receivables factoring under this program. The solution reduces exporters’ dependence on Documentary Letters of Credit and enables faster access to working capital without requiring overseas buyers to establish such instruments.
Further, the collaboration will enable Indian exporters to mitigate risks related to delayed payments and buyer insolvency, while supporting them in offering competitive trade terms to international buyers. This partnership between M1 NXT and YES BANK reflects a shared focus on digital transformation in financial services aimed at improving access to trade liquidity in a secure and regulated manner.
Sundeep Mohindru, Promoter & Director of Mynd Group, said, "With M1 NXT platform, our aim is to provide Indian exporters with easy access to working capital through a transparent and secure digital platform. The structuring of export factoring facilities for exporters is especially a happy experience, since it opens a gateway for any onboarded corporate to experience benefits of without recourse export factoring, delivered digitally by M1NXT. Our partnership with YES BANK is a significant step in enhancing a Supply Chain Finance channel to support corporate exporters in global trade and aligns with our vision of cost-effective financing solutions for cross-border trade.”
Ajay Rajan, Country Head - Transaction Banking, Government, MNC & New Economy Business, and IBU, YES BANK said, “This collaboration between YES BANK and M1 NXT ITFS reflects the Bank’s unwavering commitment to empower SMEs through digitalization and promoting cross-border export financing in line with its strategic objectives. The success of this transaction underscores the Bank’s expertise to jointly work with innovative partners and their clients, to design products that will reshape the future of international trade and support the Government’s ambition of making India a global powerhouse in Trade Finance.”
Building on the success of M1xchange TReDS, which has financed over INR 2,60,000 crore invoices for more than 70,000+ MSME vendors since 2017, M1NXT ITFS is quite resolute to extend these benefits to international trade. The platform provides newer financial avenues to her fraternity of onboarded banks and NBFCs, while helping them fulfil their priority sector lending commitments.
M1NXT ITFS commenced its cross-border trade finance operations at GIFT City, Gandhinagar, a year ago. The platform supports Indian exporters by facilitating access to working capital through transparent and secure digital processes, in collaboration with global banks, financial institutions, and factors.
