 "Fintech")
Representative Image: Shutterstock
Banking infrastructure company M2P Fintech on Tuesday claimed to have raised Rs 850 crore through a mix of primary and secondary capital as part of its series D financing round. The funding round was led by Helios Investment Partners, valuing the company at over Rs 6,550 crore.
Existing investors including Flourish Ventures also participated in the funding round.
The capital raised in the latest funding round would be utilised to strengthen its operations in India and also help the firm grow its international footprint, particularly in Africa, the company said.
“Africa now stands as the company’s next major growth frontier, presenting vast potential due to the continent’s rapidly evolving financial ecosystem. With rising smartphone adoption and the increasing prominence of mobile-led financial services delivery, M2P is well-positioned to capitalise on this opportunity,” the company said in a statement.
The firm is looking to expand into select countries in the ASEAN (Association of Southeast Asian Nations) region. It added that it looks to cement presence in West Asia.
“We are thrilled to partner with Helios, whose deep understanding of the African market, coupled with our powerful platform capabilities, will position us well to deliver on our mission of fostering financial inclusion and innovation,” said Madhusudanan R, co-founder and chief executive officer (CEO), M2P Fintech.
Established in 2014, the company operates in over 30 markets across the Asia Pacific, Middle East and North Africa (MENA), and Oceania regions.
The company claims that its offerings enable services for over 200 banks, 300 lenders, and more than 800 fintechs.
Its technology stack powers the core banking system, core lending suite, buy now pay later (BNPL), credit, debit, and prepaid cards, and Unified Payments Interface (UPI).
“Helios has a significant track record in growing fintech and financial services businesses on the continent, and this investment aligns with our strategy to invest in high-growth, tech-focused businesses,” said Elias Yazbeck, Managing Director, Financial Services and Fintech, Helios Investment Partners.
First Published: Sep 24 2024 | 4:02 PM IST
