Amazon-backed M1xchange raises $10 Mn from Filter Capital

Summary of M1xchange Funding Information

• Startup: M1xchange
• Founders: Sundeep Mohindru, Vivek Misra
• Funding Amount: Rs 84 crore ($10 million)
• Investor: Filter Capital
• Funding Series: Secondary Transaction
• Date of Funding: Recent (2 months after Jindal Stainless investment)

Previous Investors

• Investors to Date:
  • Jindal Stainless
  • SIDBI Venture
  • Amazon
  • IndiaMART
  • BEENEXT
  • Mayfield

Operational Highlights

• Founded: April 2017
• Invoice Financing: Facilitates approximately Rs 10,000 crore ($1.2 billion) monthly
• Total Invoice Discounting Facilitated: Over Rs 1.75 lakh crore ($20 billion)
• MSMEs Onboarded: 50,000
• Corporates Onboarded: 2,800
• Financial Institutions Onboarded: 66 (including banks and NBFCs)

Financial Performance

• FY24 Operating Revenue: Rs 56.47 crore (up from Rs 29.52 crore in FY23)
• Loss: Controlled to Rs 3.98 crore (down nearly 50%)

About Filter Capital

• Focus: Technology-driven businesses in India (fintech, SaaS, logistics)
• Portfolio: Includes Capillary Technologies, Chalo Mobility, LoadShare Networks, THB
• Fund Closure: Closed first fund in 2024 with a corpus of Rs 800 crore.

This information summarizes the key details about M1xchange and its recent fundraising activities.

Source link

2025-05-12 09:41:50