[Funding News] M2P Fintech Secures $50 Mn Funding from Taj Investment Holdings

Taj Investment Holdings has invested Rs 417.5 crore ($50 million) in M2P Fintech, an application programming interface (API) infrastructure platform that was previously known as Yap.

These funds are intended for expansion and to satisfy M2P's working capital requirements. The Chennai-based company is valued at approximately $800 million post-allotment.

Interestingly, Taj Investment Holdings does not appear to have made any investments in Indian startups prior to M2P. We have contacted M2P for comment and will revise the article if they respond.

In addition, M2P has expanded its employee stock option pool (ESOP) by 38,700 new options, resulting in a total ESOP pool of 1,29,140 employee stock options, as indicated by a distinct resolution filed by the company.

Beenext was the largest external stakeholder in M2P prior to this funding round, with a 10.23% stake. Tiger Global and Insight Partners had 9.22% and 6.44%, respectively. Muthukumar Ayyakannu, Prabhu Rangarajan, and Madhusudanan R, the co-founders, collectively possess 34.03% of the company. Entrackr was the first to report the development.

Read also - Bookmybai Raises INR 2 Cr in Pre-Series A CCPS Funding Round from Inflection Point Ventures

According to reports, M2P Fintech was in the process of negotiating a $80 million round, with an anticipated $30 million in secondary sales.

M2P Fintech offers API infrastructure that enables businesses to offer their own branded financial services and ensure regulatory compliance by forming partnerships with fintech companies. Nepal, the United Arab Emirates, Australia, New Zealand, the Philippines, Bahrain, and Egypt are among the countries in which the company operates.

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.

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