M2P Fintech, a provider of financial systems, has purchased Goals101, a big data analytics platform.
Some of Goals101’s investors, such as Sprout Venture Partners, Dentsu, and Nexus Venture Partners, will receive an M2P ownership. In contrast, the rest of the shareholders will receive the money out, as reported by The Economic Times.
People with knowledge of the details told ET that the equity-plus-cash deal is valued at Rs 250 crore, or $30 million.
“There is a lot of pressure on banks to reduce the number of systems they have. Further, systems have to scale to capacity. With the acquisition of Goals101, we saw an opportunity to bring platforms together and offer a cohesive solution,” said Madhusudanan R, cofounder and chief executive of M2P Fintech.
By enhancing its current credit card processing suite and expanding its value-added products and services, M2P Fintech will benefit from the acquisition. The technology from Goals101 will be utilised to provide hyper-personalization to banks and fintechs, enabling them to more effectively target clients and boost wallet spends.
The technology of Goals101 is helping its clients and their customers benefit from more relevant, customised, and advantageous marketing by slicing through the deluge of digital stimuli.
M2P is a massive API infrastructure provider that uses cutting edge technology to provide finance solutions that are futuristic and customer-focused. They provide banks, NBFCs, and internet companies worldwide with a broad range of Payments, Lending, and Banking solutions.
One of the big data platforms in the area with the quickest growth is Goals101 (also known as the Alpha Platform). The Alpha Platform’s proprietary engine, created by some of the world’s top scientists, is propelled by artificial intelligence, deep learning, and machine learning.
By using a variety of enrichment sets, the business adds value for its customers by providing them with better, more insightful, and long-lasting outcomes.