M1 NXT appoints Munindra Verma as CEO

M1 NXT, an international trade financing services platform licensed by the International Financial Services Centres Authority and a subsidiary of M1xchange, has appointed Munindra Verma as its chief executive officer.

He replaces Jacob Raphael, who has moved out of the organisation.

Verma was earlier with YES Bank, where he was working as the chief product officer and head of strategy & transformation in transaction banking.


At M1 NXT, he will be responsible for expanding the network of Global Financiers on M1 NXT platform and will also lead efforts to integrate digital technologies, according to a company statement.

“Welcoming Mr. Munindra Verma to Mynd Group, marks an exciting chapter for us at M1 NXT. With his extensive experience and proven track record in corporate and transaction banking, we are confident that Mr. Verma will lead M1 NXT to new heights,” said Sundeep Mohindru, promoter and director, Mynd Group. “His expertise in building innovative financial solutions will be instrumental in establishing M1 NXT as a trusted provider of international trade finance solutions for Indian businesses. We look forward to the transformative impact he will have on our growth and market presence.”

Mynd Group is the parent group and M1xchange is a subsidiary of the Mynd Group. M1 NXT is a subsidiary of M1xchange.

“Our efforts will be to integrate digital technologies that streamline trade and financing processes making M1 NXT as the most trusted brand for international trade financing, driving growth and strategic initiatives across all dimensions,” said Munindra Verma, CEO, M1 NXT.