Fiducia Expands Partnership with Mynd  to Advance Supply Chain Financing

Kayode Tokede 

Fiducia Data Services Limited (Fiducia) has deepened its collaboration with Mynd Fintech, a subsidiary of M1xchange and a prominent digital lending marketplace. Building on their successful partnership that began in 2022, the two companies are set to extend their innovative 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. Working together with Mynd Fintech, Fiducia will launch its supply chain finance solutions in new markets across Africa and the Caribbean in 2025.

Chief Operations Officer of Fiducia, Chukwuka Amadife in a statement said, “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. In partnership with world-class financial institutions, 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.”

Promoter and Director of M1 Group, Sundeep Mohindru said, “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. This expansion builds on the success of India’s fintech sector in addressing global SME financing needs, empowering businesses to thrive in competitive economies.”