M&A

M&A

M2P Fintech acquires identity verification services provider Syntizen

Entrackr  

Chennai-based M2P Fintech, which provides API infrastructure solutions for banks in Asia, has acquired Syntizen, a Hyderabad-based provider of identity validation services. Syntizen provides e-KYC services to Manappuram Finance, Muthoot Fincorp, Indiabulls Home Loans, and Angel Broking. Syntizen's Aadhaar verification platform is deployed by several state governments for identity verification for government schemes' beneficiaries. Since 2021, M2P Fintech has acquired four startups - Wizi, Origa.ai, BSG and Finflux. The firm had closed its Series C round at a USD 600 million valuation in January this year.

From the Venture Intelligence Incubation Database: In Jan-16, Syntizen was incubated by T-Hub.