M1 NXT ITFS has partnered with YES BANK to provide cross-border factoring solutions aimed at supporting Indian exporters with faster access to working capital and improved trade financing options.
Under the partnership, YES BANK has successfully executed its first export finance transaction by financing a Hyderabad-based engineering component manufacturer for goods supplied to a Fortune 500 buyer in the United States and its subsidiary in Mexico.
The collaboration is expected to enable more than 1,500 anchor corporates registered on the M1xchange TReDS platform to access export receivables factoring through the programme. The solution is designed to reduce exporters’ reliance on traditional Documentary Letters of Credit while enabling quicker access to working capital without requiring overseas buyers to establish such instruments.
The initiative will also help Indian exporters mitigate risks associated with delayed payments and buyer insolvency while allowing them to offer more competitive trade terms to international buyers. The partnership reflects both organisations’ focus on advancing digital financial services and strengthening trade liquidity through secure and regulated platforms.
Sundeep Mohindru, Promoter and Director, Mynd Group, said the M1 NXT platform aims to provide exporters with seamless access to working capital through a transparent and secure digital infrastructure. He noted that export factoring facilities will help corporates benefit from digitally delivered without-recourse export financing.
Ajay Rajan, Country Head – Transaction Banking, Government, MNC and New Economy Business, and IBU at YES BANK, said the partnership highlights the bank’s commitment to supporting SMEs through digitalisation and cross-border trade financing solutions aligned with India’s ambitions of strengthening its global trade finance capabilities.
Building on the success of M1xchange TReDS, which has financed more than Rs 2.6 lakh crore worth of invoices for over 70,000 MSME vendors since 2017, M1 NXT ITFS aims to extend similar financing benefits to international trade.
The platform began its cross-border trade finance operations at GIFT City, Gandhinagar, last year and works with global banks, financial institutions, and factoring companies to help Indian exporters access working capital through secure digital processes.
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