Fiducia Data Services Limited (“Fiducia”), a Nigeria based digital supply chain financing platform, has deepened its collaboration with Mynd Fintech, a subsidiary of M1xchange and digital lending marketplace to advance supply chain financing solutions across Africa and the Caribbean.
In 2023, Fiducia Data Services Limited launched the Fiducia platform leveraging on M1xchange’s TReDS platform expertise to address liquidity challenges in the Nigerian market.
With the recent partnership, Fiducia will launch its supply chain finance solutions in new markets across Africa and the Caribbean in 2025. “This partnership signifies an exciting chapter in Fiducia’s journey. After successfully launching a digital marketplace in Nigeria, we are set to unlock new opportunities for SMEs across Africa and the Caribbean,” Chukwuka Amadife, chief operations officer, Fiducia, stated.
According to Amadife, Fiducia is well-positioned to deliver innovative financing solutions and accelerate the adoption of its marketplace platform in emerging markets. “Our collaboration with Mynd Fintech will enhance our digital resilience, drive operational growth, and provide sustainable financial solutions for businesses in these key markets.”
Sundeep Mohindru, promoter and director, M1 Group, disclosed that the expansion builds on the success of India’s fintech sector in addressing global SME financing needs, empowering businesses to thrive in competitive economies.
“Our partnership with Fiducia underscores our commitment to redefining supply chain financing for underserved markets. By combining M1xchange’s technology expertise with Fiducia’s market insights, we aim to deliver efficient and scalable financing solutions to SMEs across Africa and the Caribbean.”
The Fiducia-Mynd Fintech partnership aims to address the unique challenges faced by SMEs in accessing liquidity, fostering trade, and enabling operational efficiencies. The latest milestone in the collaboration was marked on November 28, 2024, during a strategic visit by Fiducia’s delegation to M1xchange’s headquarters in Gurgaon, Haryana, India.
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