M1NXT, an IFSCA-authorised International Trade Financing Services (ITFS) platform, has partnered with YES BANK to provide cross-border factoring solutions, initially for exporters in India. Under this partnership, YES BANK has successfully executed its first export finance transaction for a Hyderabad-based engineering component manufacturer and exporter, supplying goods to a Fortune 500 buyer in the USA and its subsidiary in Mexico.

The partnership could enable over 1,500 anchors registered on the M1xchange TReDS platform to access export receivables factoring under this programme. The solution reduces exporters’ reliance on Documentary Letters of Credit and enables faster access to working capital without requiring overseas buyers to establish such instruments.

The collaboration will also help Indian exporters mitigate risks related to delayed payments and buyer insolvency, while enabling them to offer competitive trade terms to international buyers. This partnership reflects a shared focus on digital transformation in financial services to improve access to trade liquidity in a secure and regulated environment.

Sundeep Mohindru, Promoter & Director, Mynd Group, said, “With the M1NXT platform, our aim is to provide Indian exporters with easy access to working capital through a transparent and secure digital platform. Structuring export factoring facilities is especially significant as it allows onboarded corporates to benefit from without-recourse export factoring, delivered digitally by M1NXT. Our partnership with YES BANK strengthens the supply chain finance channel for corporate exporters in global trade and aligns with our vision of cost-effective cross-border financing solutions.”

Ajay Rajan, Country Head – Transaction Banking, Government, MNC & New Economy Business, and IBU, YES BANK, said, “This collaboration between YES BANK and M1NXT ITFS reflects the Bank’s commitment to empower SMEs through digitalisation and promote cross-border export financing in line with its strategic objectives. The success of this transaction highlights our ability to work with innovative partners and clients to design solutions that will shape the future of international trade and support the Government’s ambition of positioning India as a global trade finance hub.”

Building on the success of M1xchange TReDS, which has financed over Rs 2600 billion worth of invoices for more than 70,000 MSME vendors since 2017, M1NXT ITFS aims to extend these benefits to international trade. The platform offers new financial avenues to onboarded banks and NBFCs while supporting their priority sector lending commitments.

M1NXT ITFS commenced its cross-border trade finance operations at GIFT City, Gandhinagar, a year ago. The platform enables Indian exporters to access working capital through transparent and secure digital processes in collaboration with global banks, financial institutions and factors.