PE Fund Investments
Banking-focused SaaS co. M2P Fintech attracts Rs.850-Cr
Chennai-based software-as-a-service (Saas) startup M2P Fintech has raised INR 850 crore in a funding round led by Helios Investment Partners to be used as a war chest for acquisitions. The fundraise, a mix of a primary and secondary share sale, now values the company at over INR 6,550 crore. M2P’s existing investor Flourish Ventures also participated in the round.Founded in 2014 by Muthukumar A, Prabhu R, and Madhusudanan R as an API (application programming interface) infrastructure company, M2P has evolved into a banking-as-a-service company for banks, lenders, fintech and consumer technology companies. The company is looking for acquisitions in India and overseas, with a focus on Africa. M2P Fintech operates in over 30 markets across the Asia Pacific, Middle East and North Africa (MENA), and Oceania regions.
Between Apr 2020 and Sep 2024, M2P Fintech had raised over USD 163 M from 8i Ventures, Beenext, DMI Group, Flourish Ventures, Omidyar Network, Tiger Global, Better Capital, Insight Venture Partners, MUFG Innovation Partners, Visa, Anicut Capital and others.For FY23, M2P Fintech had reported about INR 440.71 Cr in Operating Income and about INR 134.26 Cr in Net Loss.
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