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Fiducia Expands Partnership with Mynd to Advance Supply Chain Financing

by Geraldine S.
12/02/2024
in Sourcing

Fiducia Data Services Limited (Fiducia) has strengthened its collaboration with Mynd Fintech, a subsidiary of M1xchange and a leading digital lending platform. Building on their successful partnership that began in 2022, the two companies plan to expand their supply chain financing solutions into new markets across Africa and the Caribbean.

In 2023, Fiducia launched its platform in Nigeria, leveraging M1xchange’s TReDS platform expertise to address liquidity challenges in the local market. Moving forward, Fiducia and Mynd Fintech aim to extend their innovative financing solutions to additional regions in 2025.

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Chukwuka Amadife, Chief Operations Officer at Fiducia, stated, “This partnership marks a new phase for Fiducia. After successfully introducing a digital marketplace in Nigeria, we look forward to offering new opportunities for SMEs across Africa and the Caribbean. With the support of leading financial institutions, we are positioned to deliver innovative financing solutions and accelerate market adoption in these emerging regions.”

Sundeep Mohindru, Promoter and Director of M1 Group, added, “Our partnership with Fiducia reflects our commitment to improving supply chain financing for underserved markets. By combining M1xchange’s technology with Fiducia’s market insights, we aim to provide efficient and scalable financing solutions to SMEs in Africa and the Caribbean. This expansion builds on the success of India’s fintech sector in addressing global SME financing needs and supporting businesses in competitive markets.”

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#SupplyChainFinancing #SMEFinance #DigitalLending #EmergingMarkets #FintechInnovation

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The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

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  • Home
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  • Compliance
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© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.