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Indian emebedded finance firm M2P has raised $56 million to expand its suite of API-based services internationally.
The $56 million Series C1 raise was led by New York-based global private equity and venture capital firm Insight Partners with participation from MUFG Innovation Partners, alongside existing investors Tiger Global and Better Capital. In total, the company has raised more than $100 million in the past year.
Over 500 fintech companies and dozens of banks leverage M2P’s API infrastructure to embed financial products. The company is currently riding the BNPL wave, reporting widespread adoption of its programmable credit card stack that helps firms gain access to Visa credentials for fast market rollout.
Operating in over 20 markets across Asia and North Africa, M2P has its aims set on global growth.
Madhusudanan R, co-founder and CEO comments, “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.”
Financial Services
