amazon smbhav venture fund: Amazon leads $10 million financing in M1xchange

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M1xchange had earlier raised $4.5 million from Beenext and Mayfield in December last year. The firm also counts SIDBI Ventures among its investors.
“With this new funding, we plan to further expand our reach beyond the 352 cities from where MSMEs currently enjoy the benefit of discounted invoices,” M1xchange founder Sundeep Mohindru said in a statement.
Started in 2017 under the TReDS (Trade Receivables Discounting System) licence issued by the Reserve Bank of India (RBI), M1xchange aims to solve the payments challenge for MSMEs by connecting them with banks and financiers through the marketplace exchange.

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