Fiducia, a Nigerian digital supply chain financing platform, says it has partnered with Mynd Fintech, a subsidiary of M1xchange, to enhance supply chain financing in Africa and the Caribbean.
Chukwuka Amadife, the Chief Operations Officer of Fiducia, said this in a statement on Thursday in Lagos.
He said that the partnership signified an exciting chapter in Fiducia’s journey, after successfully launching a digital marketplace in Nigeria.
According to him, the company is set to unlock new opportunities for Small and Medium Enterprises (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, “Amadife said.
Sundeep Mohindru, Promoter and Director of M1 Group, said the partnership with Fiducia underscored the organisation’s commitment to redefining supply chain financing for underserved markets.
He said that by combining M1xchange’s technology expertise with Fiducia’s market insights, efficient and scalable financing solutions would be delivered to SMEs across Africa and the Caribbean.
“This expansion builds on the success of India’s fintech sector in addressing global SME financing needs and empowering businesses to thrive in competitive economies.
“The Fiducia-Mynd Fintech partnership aims to address the unique challenges faced by SMEs in accessing liquidity, fostering trade, and enabling operational efficiencies.
“This collaboration will combine Fiducia’s marketplace expertise with Mynd Fintech’s advanced technology to jointly create impactful solutions for businesses, enabling sustainable growth and economic empowerment in Africa, “Mohindru said.
He said that with plans to go live in targeted countries by 2025, the partnership was poised to drive innovation, trade and economic development in the regions, demonstrating a long-term commitment to financial inclusivity and empowerment worldwide.
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