M2P Fintech raises $35M in Series C round

m2p fintech funding

M2P FINTECH, an API infrastructure startup, announced that it has raised $35 million in a Series C round led by Tiger Global Management.

Existing investors BEENEXT, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital, and the DMI Group via its investment vehicle Sparkle Fund also participated in the round.

The Chennai-headquartered startup plans to use the freshly raised funds to improve its API infrastructure capabilities and extend its reach beyond Asia. The startup’s tech platform is employed by banks, fintech companies, and consumer internet companies across Asia.

Commenting on the funding, Madhusudanan R, Co-founder and CEO, M2P Fintech, said, “The founding vision of M2P Fintech is to enable every company to become a fintech. Our immediate focus is to double down on growth in India and the expansion of our team in Dubai, where we have committed to invest more than AED (dirham) 100 million over the next 18-24 months. We are also aggressively pursuing organic and strategic opportunities that will strengthen our product capabilities to better serve our customers.”

M2P claims to have achieved 400 percent year-on-year revenue growth and is processing over $10 billion in annualized payments volume across millions of users via 500-plus fintech partnerships.

M2P has a presence in India, Nepal, the United Arab Emirates, Australia, New Zealand, the Philippines, Bahrain, and Egypt. The company is looking to extend its presence to Indonesia, Bangladesh, Vietnam, and across the MENA region.

Commenting on the investment, Alex Cook, Partner, Tiger Global Management, said, “The Indian financial services ecosystem is undergoing an exciting shift to digital across banking, credit, payments, and investing. The M2P platform is enabling this shift, and many of the leading fintech companies have already chosen to work with them. We are excited to partner with Madhu and the rest of the team as they continue to expand the platform and deliver for customers.”

M2P Fintech seems to be an interesting platform in the fintech space offering innovative solutions. I believe the company will continue to prosper in its journey ahead. My best wishes to the team of M2P Fintech.

Shishir Gupta, Founder and CEO, StartupLanes

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