M1NXT ITFS partners with YES BANK for export financing

M1NXT ITFS has partnered with YES BANK to enable cross-border trade financing for Indian exporters, marking a step towards digitising export receivables and improving access to global trade liquidity.

As part of the collaboration, YES BANK has completed its first transaction under the programme, financing a Hyderabad-based engineering exporter supplying to a Fortune 500 buyer across the United States and Mexico. The deal demonstrates the operationalisation of cross-border factoring through a regulated digital platform.

The partnership is expected to extend export receivables financing to over 1,500 anchors registered on the M1xchange TReDS platform, broadening access to working capital for exporters. By offering factoring solutions, the model reduces reliance on traditional instruments such as documentary letters of credit, which are often time-consuming and cost-intensive.

The structure allows exporters to unlock liquidity against receivables while mitigating risks linked to delayed payments and buyer insolvency. This is particularly relevant for small and mid-sized exporters seeking to offer competitive trade terms to international buyers without straining cash flows.

Sundeep Mohindru, Promoter & Director of Mynd Group, said, “With M1 NXT platform, our aim is to provide Indian exporters with easy access to working capital through a transparent and secure digital platform. The structuring of export factoring facilities for exporters is especially a happy experience, since it opens a gateway for any onboarded corporate to experience benefits of without recourse export factoring, delivered digitally by M1NXT. Our partnership with YES BANK is a significant step in enhancing a Supply Chain Finance channel to support corporate exporters in global trade and aligns with our vision of cost-effective financing solutions for cross-border trade.”

Ajay Rajan, Country Head – Transaction Banking, Government, MNC & New Economy Business, and IBU, YES BANK said, “This collaboration between YES BANK and M1 NXT ITFS reflects the Bank’s unwavering commitment to empower SMEs through digitalisation and promoting cross-border export financing in line with its strategic objectives. The success of this transaction underscores the Bank’s expertise to jointly work with innovative partners and their clients, to design products that will reshape the future of international trade and support the Government’s ambition of making India a global powerhouse in Trade Finance.”

The move builds on the scale achieved by the M1xchange TReDS ecosystem, which has financed over INR 2.6 lakh crore in invoices for more than 70,000 MSMEs since inception. With GIFT City emerging as a hub for international financial services, M1NXT’s cross-border platform is positioned to connect Indian exporters with global financiers in a regulated environment.

The development reflects a broader shift in trade finance towards platform-based models that integrate banks, non-banking financial institutions, and exporters, aiming to address long-standing gaps in access to working capital and reduce friction in cross-border transactions.