M1xchange Doubles Operating Scale and Reduces Losses in FY23

  • Amazon-backed M1xchange grows operating revenue to Rs. 29.52 crore in FY23, from Rs. 14.32 crore in FY22.
  • Despite a 57.3% increase in total expenditure, the digital invoice platform cut annual losses by 7.5% to Rs. 7.92 crore.
  • The company recently partnered with Mastercard and is projected to see over 2X growth in bill discounting to Rs. 25,000-30,000 crore.
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