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.
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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