Private Equity

Liquidity Events

8i Ventures offloads partial stake at 36x in BaaS co M2P Fintech

Entrackr,   Inc42  

8i Ventures, an early-stage venture capital fund, has made a partial exit of its seed investment in M2P Fintech at a 36X multiple clocking an IRR of 415% over 2 years. M2P is among the portfolio winners of 8i Ventures. It offers Banking-as-a-Service (BaaS) to over 500 fintechs, along with non-banking financial companies (NBFCs), banks and other financial service companies. The valuation of M2P Fintech has grown by 60X to USD 600 million since 8i Ventures led its seed round in January 2020. M2P's clients include Slice, Uni, Lazypay and Kodo. It claims to have a presence across Asia, North Africa, Australia, and New Zealand. Following this partial exit, 8i Ventures, through its Fund I and affiliates, will continue to hold more than 75% of its original stake in the company.