M2P Fintech, which claims to be one of Asia’s leading financial Infrastructure firms, has announced a $56 million Series C1 raise that was led by New York-headquartered global private equity and VC firm Insight Partners
M2P Fintech further revealed that their investment round included contributions from MUFG Innovation Partners, a CVC company of Mitsubishi UFJ Financial Group, Inc. (MUFG) – one of the world’s leading financial groups.
Existing investors Tiger Global and Better Capital also took part in the round. In total, the company has raised over $100 million in the past year. The investment allows M2P to further “build its technology and team, while accelerating its plans to expand internationally.”
M2P’s existing investors also include BEENEXT, Flourish Ventures, Omidyar Network India, 8i Ventures, and the DMI Group “via its investment vehicle Sparkle Fund.”
M2P Fintech, an API infrastructure firm that enables businesses of any scale to embed financial products in their customer journeys, claims that it is “the platform of choice for the burgeoning fintech ecosystem.”
More than 500 Fintechs, banks and other financial institutions leverage M2P’s API infrastructure to “embed financial products.” In the past year, M2P witnessed “widespread adoption of its Buy Now, Pay Later (BNPL) + Programmable Credit card stack that allows BNPL companies to gain access to Visa Credentials, thereby helping them go to market rapidly.” M2P Fintech operates in more than 20 markets, globally.
Madhusudanan R, Co-Founder and CEO of M2P Fintech, stated:
“The consequence of COVID-19 pandemic has accelerated the shift from in-person to digital consumption. This shift has forced businesses across the globe to move from brick and mortar to digital channels and, in doing so, has created an urgency for businesses to adopt an API platform like ours. We see an unprecedented opportunity to meet this need by bringing our leading platform to other fintech markets across Europe, Africa and Asia, while doubling down on key and emerging fintech markets such as the Philippines, Indonesia and Egypt.”
Nikhil Sachdev, MD at Insight Partners, remarked:
“M2P is India’s leading FinTech infrastructure-as-a-service company – they knit together the broadest set of banking and fintech relationships in the market and have built powerful products delivered as an API with a strong commitment to customer service. M2P’s stellar founding team and rapid growth have established the company as a clear market-leader that is transforming financial innovation in the region. We’re excited to partner with Madhu and team as they continue to scale up.”
Mayank Shiromani, VP, MUFG Innovation partners, said:
“We are excited about the growth of fintech and fintech-enabled businesses in India / SE Asia and we believe M2P has an important role to play in the ecosystem. Top start-ups in India already work with M2P. For financial institutions like MUFG, M2P unlocks new partnerships possibilities and provides tested technology for scaling digital offerings efficiently.”