M&A
M2P acquires credit card sourcing startup Wizi
Fintech startup M2P has acquired fellow Chennai-based credit card sourcing startup Wizi in a cash and stock deal that values Wizi at around $5 million. Wizi's three co-founders and its about 20 employees are set to join M2P's team. Wizi is a credit card-focused fintech firm that, through its programs, provides digital services to credit card customers of banks. It manages both sourcing and management of credit cards, be it benefits, offers, managing revolving credit and more. The company has 300,000 users through its app. M2P raised $10 million led by Flourish Ventures and Omidyar Network in its last funding round in March 2021. The startup has raised $15 million till date and counts Beenext, Better Capital and angel backers such as BharatPe's Ashneer Grover, Indifi's Alok Mittal, Pine Lab's Amrish Rau and Cred's Kunal Shah, as investors.
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