Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
M2P Fintech, a leading fintech startup, raised ₹850 crore in Helios Investment Partners-led Series D funding round. Major Asian banks and their existing investor, Flourish Ventures, were some of its major participants. The funding is further to be the company’s most significant funding round as it pushed its valuation over ₹6550 crores, getting it closer to its unicorn status.
The fresh capital is planned to be used for the inorganic growth of the company, while a portion of it will help to enhance its capabilities and expand its international footprint, in particular Asia. Currently, M2P Fintech remains active in 5-6 Asian markets. As per Madhusudana R, the CEO of M2P fintech, partnering with the African-focused fund, Helios will aid in the strategic scaling in the region.
Founded in the year 2014, M2P Fintech evolved from being the API infrastructure provider to the leading banking-as-a-service platform. It now supports around 200 banks and 800 fintech partnerships.
The company previously, with its 4 funding rounds, raised $105 million. It was able to attract some global investors like Omidyar Network India and Tiger Global.
As per the CEO, it's notable that the company, in recent quarters, has been profitable, and new funding would help with market expansion facilitation while preparing for the potential public listing in 2-3 years. As the international markets contribute towards 40% of its revenue, the upcoming opportunities can raise it to 60-70%, while India would remain central to the strategy.
Now, as the startup continues to grow, it is well-positioned with high hopes and better plans to become a global leader in the banking industry. How long it takes, is all upon the strategies and initiatives ahead.
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