Indian integrated finance company M2P has raised $56 million to expand its suite of API-based services internationally.
The $56 million Series C1 raise was led by Insight Partners, a New York-based global private equity and venture capital firm, with participation from MUFG Innovation Partners, alongside existing investors Tiger Global and Better Capital. In total, the company has raised over $100 million in the past year.
More than 500 fintech companies and dozens of banks leverage M2P’s API infrastructure to integrate financial products. The company is currently riding the BNPL wave, reporting widespread adoption of its programmable credit card stack that helps businesses access Visa credentials for rapid market deployment.
Present in more than 20 markets in Asia and North Africa, M2P aims for global growth.
Madhusudanan R, Co-Founder and CEO comments, “The aftermath of the Covid-19 pandemic has accelerated the shift from in-person to digital consumption. This change has forced businesses around the world 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 in Europe, Africa and Asia, while doubling down on our efforts in key and emerging fintech markets such as as the Philippines, Indonesia and Egypt. »