Private Equity Fund Investments
API infra co M2P Fintech raises $35-M led by Tiger Global at $335-M valuation
Chennai-based M2P Fintech, an API infrastructure company (operating under the brand YAP), has raised USD 35 million in a Series C round led by Tiger Global. The round, which valued M2P at USD 335 million. Existing investors Beenext, Flourish Ventures, Omidyar Network, 8i Ventures, Better Capital and the DMI Group (via Sparkle Fund) also participated in the round. M2P will use the funds to enhance its API infrastructure capabilities and expand its reach beyond Asia. Currently, M2P has a presence in India, Nepal, the United Arab Emirates, Australia, New Zealand, the Philippines, Bahrain and Egypt. The company plans to expand its footprint to Indonesia, Bangladesh, Vietnam, and across the Middle East and North Africa (MENA) region.
From the Venture Intelligence PE-VC Deal Database: Between Apr-20 and Mar-21, YAP had raised close over INR 100 crore from Flourish Ventures, DMI Group, Beenext and Omidyar Network (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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