Helios Investment Partners has led a primary and secondary financing round that has raised Rs 850 crore (approximately $101.8 million) for M2P Fintech, an application programming interface (API) infrastructure platform.
The funds will be used to expand its international franchise, with a particular emphasis on Africa, and to solidify M2P’s market leadership in India. The continent’s financial ecosystem is rapidly evolving, and Africa is now the next main growth frontier for M2P, offering vast potential.
Additionally, prominent institutions from Asia participated in the Series D round, and Flourish Ventures, an existing investor, increased their stake in the company. The primary investment accounted for $70 million of the total, while the remaining amount was obtained through secondary transactions. The company has reported that this round has increased its valuation to Rs 6,550 crore (approximately $790 million).
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M2P Fintech offers API infrastructure that enables businesses to offer their own branded financial services through partnerships with fintech companies, thereby ensuring regulatory compliance. More than 200 banks and 300 lenders are powered by M2P Fintech, which operates in over 30 markets, including the Asia Pacific, MENA, and Oceania, regions.
The company’s objective is to provide “Bank in a Box” solutions, as well as digital payments, credit card issuance, and other financial services that are tailored to the specific needs of local markets, according to the release.
M2P has not yet disclosed its FY24 results; however, its operating revenue increased by 2.26X to Rs 440.7 crore from Rs 194.74 crore in FY22. Nevertheless, its losses increased by 3.35X, totaling Rs 134.26 crore in FY23.
About M2P Fintech
Founded in 2014 by Madhusudanan R, Prabhu Rangarajan, Muthukumar A, M2P is an API infrastructure giant delivering futuristic and customer-centric fintech solutions through cutting-edge technology.
