However, in the Indian context largely such options were so far not available to Small and Medium enterprises. This move is expected to bring in high liquidity to buyer corporates and MSMEs at competitive interest rates. Till date, six banks and NBFCs have registered in the platform and five are in the process, he said. 288A, Udyog Vihar, Phase-IV, Gurgaon - 122001 Haryana, India. On November 24th, 2015, Reserve Bank of India (RBI) granted in-principle approval to three companies to set up Trade Receivable Discounting System (TReDS) platform. Banking & Finance at Mynd Online National Exchange (M1xchange) South Delhi. SIDBI Venture Capital Limited (SVCL), incorporated in 1999, is an investment management company and a wholly owned subsidiary of SIDBI (www.sidbi.in), the Apex Financial Institution in the country for the MSME sector. The Reserve Bank of India granted approval to Mynd Solutions Pvt Limited to set up and operate M1xchange, the first trade receivable exchange in India. TReDS will allow SMEs to post their receivables on the system and get them financed. . Improve your bottom line with Mynds finance and accounting outsourcing solutions, built to achieve high-performance business results. Since its establishment in 2015, the team has invested in over 180 companies globally. them. His strong industry focus and client relationships have enabled the Company to build credibility with 200+ clients in a short period of time. Departments (Buyers) and Banks/NBFCs (Financiers). Every business enterprise consists of a system of interconnected processes and functionalities. Mynd Solutions Pvt Ltd, is one amongst the three companies set up the TReDS platform M1xchange on April 7th, 2017 under the Payment and Settlement System (PSS) Act 2007 to facilitate discounting of invoices and Bills of exchange for MSMEs on PAN India basis. Virtual Mynd is an online platform to provide the common information that any business in any industry requires to start and run the operations. For any queries or complaints, please call us at: Customer Care: 1800-1037261 (Toll Free) One of Indias leading TReDS (Trade Receivable electronic Discounting System) platform that was licensed by the Reserve Bank of India (RBI) in 2015 to facilitate the discounting of invoices and bills of exchange of MSME vendors on a PAN India basis. AP NP MR, 288A, Udyog Vihar, Phase-IV, Gurgaon - 122001 Haryana, India. Mynd Solutions Pvt Ltd - M1xchange Oct 2022 - Present2 months Associate Vice President Marketing IFCI FACTORS LTD Oct 2008 - Nov 202214 years 2 months Factoring - Generating leads, Credit. As a great value creator in the chain, M1xchange has undoub tedly gained good reputation among bankers. YoutubeVimeoDailymotionSoundcloudAudio File http://www.code125.com/wp-content/uploads/2012/09/Khaly-Bokra-A7la.mp3 We pride ourselves on this process of diversification. Headquarters Regions Asia-Pacific (APAC) Founded Date Apr 1, 2017 Founders Sundeep Mohindru Operating Status Active Last Funding Type Secondary Market Also Known As Mynd Online National Exchange Legal Name M1xchange Company Type For Profit Contact Email sales@m1xchange.com Phone Number 18001037261 He has been associated with Mynd for over a decade now and heads overall operations for Mynd Solutions. To channelize MYNDs leading practices to offer best-in-class Trade receivables exchange for MSMEs, Corporates & Financiers; ensuring seamless liquidity flow between all stakeholders, contributing to the countrys growth. SIDBI who has invested through their 2 funds in M1xchange namely Maharashtra State social venture Fund & Indian Opportunities Fund. Investors He is a successful entrepreneur with a strong background in Accounts and Finance. BEENEXT is a Venture Capital fund managed by serial entrepreneurs that focuses on assisting founders with its operational experience, network, trust, unique perspectives, and the capital. kalpana jha Entrepreneur at BWW GLOBAL . change in this space. Vivek has over 15 years of experience in setting up shared service centers in the HR and F&A space, with 3 years in consulting and 12 years in outsourcing functions, serving companies in the Manufacturing, Engineering, Services, and Telecom industries. The use of TReDS is aimed at improving the flow of funds to micro, small and medium enterprises (MSMEs) by reducing the receivables realisation cycles. To become the most trusted platform where businesses find information and expertise to start and run their operations. M1xchange, as a leading TReDS platform, is heading in the right direction, aiming at realizing the true potential of SME sector with the help of sound & stable technological infrastructure and trained professionals. Tomorrow's Money Today | MYND Online National Exchange is an online exchange for Trade Receivables Discounting System "TReDS" set up under the approval of Reserve Bank of India (RBI) to facilitate discounting of invoices and Bills of exchange on a PAN India basis. HDFC Bank TReDS is an innovative system conceived and regulated by RBI that Because that is what is gaining tractiondisruption, so much so, that it is no more a disruption now, it is the new normal. Copyright @ 2017 MYND SOLUTIONS PVT LTD. All Rights Reserved. As a Digital marketplace, it orchestrates the financing process between the Anchor, Vendors, Dealers, Buyers and the Banks/NBFCs. Our new collection is out, check it out. In todays fast-paced world, organizations are busy in creating disruptions in what we eat, drink, breathe, how we commute, communicate, the very way we live. 18 comments on LinkedIn M1XCHANGE's Trade Receivables Discounting System (TReDS) in an online exchange set up under the approval of Reserve Bank of India (RBI) to facilitate discounting of invoices for MSME sellers. CoinTribe's coverage in Outlook Biz. M1xchange Get in touch with us Enquiry Registration By submitting above details, I override my NDNC registration and authorize Mynd Solutions Private Limited or its representative to contact me through SMS/ Call/ Email/ WhatsApp for any assistance and this will not cause any inconvenience to me. OFF BALANCE SHEET* for Corporate and its Vendors WORKING CAPITAL FINANCING for growth through Mynd Financial Services (MFL) REDUCED PROCUREMENT COST Currently Heading FI Relationships for M1xchange TReDS platform by Mynd Solutions P Ltd Over Two decades of leadership roles with Global banks such as ANZ, Credit Agricole CIB, ABN Amro and. The exchange has hosted Nationalised, Private and Foreign banks to finance these receivables at most competitive rates with a unique model of bidding by the banks. The operationally inefficient process employed currently which requires a lot of time and Download M1xchange TReDS and enjoy it on your iPhone, iPad and iPod touch. In case of Talent Hiring, not keeping up with trends means that you are using outdated practices and producing weaker results. He set up his 3rd company M1xchange in the year 2017.know more, Vivek is one of the founders of Mynd Solutions. This will benefit the industry by providing the much needed cash flow on unsecured basis which has been a long standing ask from the industry. M1xchange employs the latest technologies to ensure the authenticity of the underlying transactions. By leveraging technology, the Cashinvoice platform links financial institutions, large corporations, and their MSME supply chain partners to extend working capital by offering embedded lending products to grow and . Finding the perfect resource for the job could be quite prolonging generally. of receivables. To keep getting important updates on TReDS, sign up to our newsletter. ACCESS TO NETWORK OF 35 BANKS in India for online Financing of Payables INTEGRATED SOLUTION FOR PAYABLES FINANCING- M1XCHANGE FROM MYND for financing of Payables vide Factoring. Mumbai, Oct 4 Gurgaon-based Mynd Solutions will launch Online National Exchange for Receivables over the next three months, its CEO said. Mynd Solutions is one of the very few entities. Shop. "We have invested around Rs 25 crore for setting up M1xchange, which is partly funded by Sidbi VC fund and internal accruals," Mohindru said . TReDS will allow SMEs to post their receivables on the system and get them financed. The exchange enables MSME to secure finances by converting their trade receivables into liquid funds, on without recourse basis. Copyright @ 2017 MYND SOLUTIONS PVT LTD. All Rights Reserved. Mayfield is a global venture capital firm with $2.5 billion under management. This benefits the industry by providing much needed cash flow on unsecured basis, which has been a long standing ask from the industry. Our service offerings include building strong customer relationships and providing the know how to maximize the effectiveness of every customer interaction. Basic Data Updated 1 month ago Instant Update Last Filing with ROC 31 Mar 2021 Buy Report By harnessing the latest digital technology tools M1 will endeavour to bridge this gap. Key participants in TReDS are Micro, Small & Medium Enterprises MSME (Suppliers), large Corporates including PSUs and Govt. A chartered accountant by profession, Sundeep is the Founder Director of Mynd Solutions. This includes experience in Service, Manufacturing, Telecom and Retail Sectors and system like Tally, FoxPro, PeopleSoft (JD Edwards), Oracle 11i, Focus RT Retail, SAP ECC 6.0 etc. Sunil has 21 years of experience in Digital Space and has been part of large project implementations for Banks, Exchanges and financial institutions across many International geographies, like, North America, Central Europe & Asian Markets. Sundeep is a leading Finance & Technological innovator and a serial entrepreneur in Finance, HR and FinTech space. BEENEXT aims to establish a platform of founders, by the founders and for the founders across the globe, primarily in South East Asia, India and Japan. Over its life, SVCL has managed funds focused on different themes including Sta rtups/ early stage technology businesses, manufacturing SMEs, service entities, agri- businesses, financial inclusion companies, etc. At Mynd, Vivek is responsible for overall operations and strategy, leading a team of more than 1100 employees. Mynd Financial Services (Mynd Fintech) is a Digital lending marketplace focused on enabling Supply Chain Finance Solutions. Mynd has also developed a niche in the international HR space, offering multi country services on a single platform under his leadership. M1xchange employs the latest technologies to ensure the authenticity of the underlying transactions. Financing on M1xchange is Without Recourse to the MSME supplier as per RBI guidelines. "We have invested around Rs 25 crore for setting up M1xchange, which is partly funded by Sidbi VC fund and internal accruals," Mohindru said. It is changing the way companies do, The finance functions in Indian companies are facing increasing demands as a result of the dynamically growing business environments, rapid technological changes, increased linkages with overseas environments and enhanced standards of reporting, etc. Mynd Solutions is a leading global service provider in business process and technology management, offering broad spectrum of services in Finance and Accounting (F&A), Human Resource Processes (HR), Information Technology (IT) and Consulting. Currently working with Mynd Solution Ltd (M1XCHANGE) as a Senior Manager. 162 2 Mynd Solutions is a leading domestic service provider in business process and technology management, offering a broad spectrum of services in FAO, HRO, IT & Consulting. Developed markets provide receivable solutions in a wide variety of products by the TReDS has the capability of transforming the way the receivable finance and other supply chain finance solutions are operating currently. However in the Indian context largely such options were so far bring in the transparency in pricing and other related aspects of the transaction. Kapil is also an Information Systems Auditor, GST Expert, and Certified in Forensic Accounting & Fraud Prevention from the Institute of Chartered Accountants of India. M1 will also provide a transparent and open architecture system for all the stake holders. . The financiers know more, Vivek is a seasoned banking & finance professional with over 13 years of extensive experience in the supply chain finance. In this entire cycle, managing finance becomes a laborious & tedious work. Enable Corporates and MSMEs to focus on their key business and make other expertise available at their doorstep, virtually, Improve your bottom line with Mynds finance and accounting outsourcing solutions, built to achieve high-performance business results. M1xchange is one of India's leading TReDS (Trade Receivable electronic Discounting System) platform that was licensed by the Reserve Bank of India (RBI) in 2015 to facilitate the discounting of invoices and bills of exchange of MSME vendors on a PAN India basis. transforming the way the receivable finance and other supply chain finance solutions are operating Mynd Solutions Pvt. M1xchange has digitally transformed. HDFC Bank has partnered with M1xchange promoted by Mynd Solutions Pvt Ltd to make a debut in the Trade receivables Discounting System (TReDs) platform. His proficiency includes accounting in SAP, Oracle and Great Planes. Ltd. | 21,469 followers on LinkedIn. Founded in 2002, as an F&A and HR services company, today Mynd Group is one of Indias leading business conglomerates with an interest in F&A, HRO Services & Digital Supply Chain Financing. But not with our RPO solutions. Mynd Solution's approach puts process at the forefront, understanding the value it brings to a company in driving frontend results such as customer satisfaction and retention, revenue generation and profitability. With a Pan-India presence through 25+ offices in all metropolitan cities and with a total strength of 1400+ employees with a vastly experie nced top management team. The operationally inefficient process employed currently which requires a lot of time and effort for authentication and verification of the genuineness of the transactions is replaced by easy and effective process driven by technology. (Between 10:00 AM to 6:00 PM - Monday to Friday), You can also write to us at: helpdesk@m1xchange.com. Worked with the industry leaders like IDBI Bank, ICICI Bank and YES Bank, know more. Be it architecture consulting, IT governance models, Cloud hosting or custom application development; you can bank on our consultants. The exchange will enable the availability of funds to MSMEs segment at a much lower rate of interest in comparison to the offline market, he said. It is intended to bring businesses to the platform to get answers to commonly asked questions through the Knowledge Center. Finance & Accounts Outsourcing; Human Resource Outsourcing; Case Study; Home; Finance & Accounts Outsourcing; Human Resource Outsourcing; Case Study Credit and Finance for MSMEs: The invoice discounting platform for MSMEs M1xchange, promoted by Mynd Solutions, has achieved breakeven this financial year and is expected to be profitable by. bank as well as non- bank entities. M1xchange is an outcome of the RBI's approval to Mynd Solutions to implement TReDS (Trade Receivables Discounting System). Our rich legacy, our innate understanding of the markets we operate in, and our ability to evolve to meet the changing needs of the increasingly globalized economy of India. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. Mission cycles. (Between 10:00 AM to 6:00 PM - Monday to Friday), You can also write to us at: helpdesk@m1xchange.com. will be able to easily find receivables that are authenticated digitally by the counterparties and fund Brand Marketing: Managing the entire marketing and branding activities of Mynd Solutions and M1xchange, encompassing the entire range of ATL, BTL and Digital Marketing Campaigns in Indian and African Market. Lorem ipsum dolor sit amet, consectetur adipiscing elit. And nobody would ever complain about taking a little help from the machines, especially people who have a business to run. In 1997 he graduated from Delhi University, with a Bachelor's degree in Engineering (Computers), First Class with Honors. Saurav is a seasoned finance and accounting outsourcing professional with hands-on diverse experience of more than 15 years in the overall management of outsource Finance and HR operations of major domestic and global multinational companies in varied industries and sectors. Vivek has over 18 years of experience in setting up shared service centers in the HR and F&A space.know more, Jacob is a subject matter expert in supply chain finance. Mynd Solutions is a leading global service provider in business process and technology management, offering broad spectrum of services in Finance and Accounting (FAO), Human Resource Outsourcing (HRO), Information Technology (IT) and Consulting. Cashinvoice | 3,676 followers on LinkedIn. Jacob has served two decades in the banking and finance industry. M1xchange has digitally transformed the process of gaining access to working capital for . He has extensive experience of working in corporate finance, business budgets & plans and key initiatives for the companies. Looking forward for your active participation in our journey to bring about a positive Products and Solutions designed to meet the unique challenges faced by businesses across Industries Introduction to Mynd Mynd is a leading global business process and technology management company, offering Tech enabled F&A and HR solutions to wide array of companies from Fortune 500 to small and medium businesses Learn More Meet our Leaders Awarded as "The Digital Solution of the Year" at the Express IT Award 2017. M1xchange was launched on 7th April 2017 to service the finance needs of MSME across India. This critical, Finding the perfect resource for the job could be quite prolonging generally. Launch of M1xchange, an RBI approved TReDS platform for invoice factoring. Maximize your output and profits by optimizing the utilization of your human resources without increasing costs. Company Status: Active Company Age 20 years 5 months . . Maximize your output and profits by optimizing the utilization of your human resources without increasing costs. Gurgaon, Haryana, India. By harnessing the latest digital technology tools M1 will endeavour to bridge this gap. He has been associated with companies like Tata Consultancy Services, Indus Valley Partners, Sapient Global Markets and Steria India Ltd before joining M1 Xchange. He is presently on the panel of Arbitrators of the ICAI. Mumbai, Oct 4 () Gurgaon-based Mynd Solutions will launch Online National Exchange for Receivables over the next three months, its CEO said. Digital Marketing: Plan, monitor and optimize the . Businesses are able to offload transactional functions and gain the ability, A leading security services company employing more than 1 Lakh employees deployed across every state in India, having presence in more than 130 locations with multiple codes and sub codes for social security and Provident fund management, working with more than 15000 end client locations, was faced with a unique challenge of bringing efficiency and, Manufacturing Industry is going through a rough patch Increased costs of raw material and decrease in demand is making it increasingly difficult to stay profitable, even for the top names in the Industry. Some "Diwali" Moments at Mynd office with My Mentor Saurav Wadhwa & @Vivek Misra and all my wonderful colleagues! M1xchange TReDS is a digital marketplace to sell the receivables to banks/NBFC set up under the approval of Reserve Bank of India (RBI) to facilitate the discounting of invoices and bills of exchange on a PAN India basis. Any question for which understanding of specific scenario is required or which may require some analysis before answering the question, may be asked from an expert, who can answer that specific question. effort for authentication and verification of the genuineness of the transactions will be replaced by Mohindru said that Mynd Solutions' trade receivable exchange had gone live on April 7 and in two months period discounted bills worth 5 crore. Key participants to be Micro, Small & Medium Enterprises "MSME" ("the Seller . We have created M1 Mynd Online National Exchange for Receivables, which will be operational in next 2-3 months period," Mynd Solutions CEO Sundeep Mohindru told here. Online terminals will be offered to corporates, MSMEs and the bankers to transact on the platform. Mynd Solutions runs 'M1xchange', which is India's largest TReDS platform. M1 aims to improve the flow of funds to MSME enterprises by reducing the receivable realisation easy and effective process driven by technology. M1xchange | 5,129 followers on LinkedIn. MYND SOLUTIONS PRIVATE LIMITED m1xchange.com. In todays world, if an organisation wants to attract and hire top talent more efciently, it needs, Getting on the digital trend has proved to be a boon for businesses, especially the startups. Since its founding in 1969, the Firm has invested in more than 500 companies resulting in 117 IPOs and more than 200 mergers or acquisitions. Mayfield India has over $200 million under management and is a sector agnostic fund that invests in both technology, as well as, non-technology start-ups across sectors such as financial services, consumer brands, FMCG, logistics, and healthcare amongst others. Mynd Solution's approach puts process at the forefront, understanding the value it brings to a company in driving frontend results such as customer satisfaction and retention, revenue generation and profitability.
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